The Bureau of the Treasury (BTr) made a full award on the 35-day treasury bills auctioned yesterday amid healthy demand for the government IOU.
The auction was more than twice oversubscribed, attracting a total of P34.39 billion in tenders.
The committee raised P15 billion as planned.
“Rates to be within vicinity of inflation,” Rosalia de Leon, national treasurer, told reporters through Viber.
We see now appetite for intermediate part of curve,” she added.
The 35-day paper fetched an average rate of 2.065 percent, 4.1 basis points higher than previous rate of 2.024 percent.
Bids for the five-week paper ranged between 1.8 and 2.1 percent.
Last Monday, the BTr also raised P26 billion from its 91-day, 182-day and 364-day treasury bills auction.
Asked if the BTr sees an opportunity to do a jumbo issuance or retail treasury bond sale amid healthy demand for local government debt securities, De Leon said: “(We are) watchful of developments and risk return tolerance of investors.”