Broken down, the Treasury borrowed P20 billion via the 91-day T-bills as bids for the tenor reached P58.41 billion. Oil prices skidded on Monday as hopes of a peace deal in the Middle East grew, Reuters reported. The fresh flare-up in hostilities between the US and Iran last month pushed up both global and local oil prices, threatening the Philippines’ inflation outlook. A trader said the T-bills fetched lower average rates “following the overall fall in bond yields last week.” The BTr plans to raise P330 billion from the domestic market this month, or P200 billion in T-bills and P130 billion from T-bonds.