BTr fully awards 35-day TBill

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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.

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“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.”

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