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Global jitters lower gov't borrowing costs

Manila Bulletin

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July 15 2025

The Marcos administration has borrowed P28.4 billion from domestic creditors through the sale of short-term debt on Monday, July 14—surpassing its target for a second straight week as investor demand strengthened amid lower borrowing costs due to heightened tariff-led global economic uncertainty.

- By DERCO ROSAL

During the sale of three-month, six-month, and one-year debt securities, the Bureau of the Treasury (BTr) awarded beyond its P25-billion program after receiving a total of P102.9 billion in bids—more than four times the amount offered.

This week’s demand was higher than last week’s P87.5 billion in bids for similar offerings.

The BTr fully awarded its P7-billion offer for 91-day treasury bills (T-bills). Total tenders reached P38.2 billion. The average rate was 5.475 percent, 5.1-basis points (bps) lower than the previous week’s 5.526 percent.

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