The Bureau of the Treasury has fully awarded bids for the treasury bills auctioned yesterday amid strong demand for the short-term IOUs.
The auction for the 91-day, 182-day and 364-day treasury bills was more than thrice oversubscribed, with total tenders reaching P50.9 billion.
With its decision, the auction committee raised the full program of P15 billion.
“Well-participated and outcome expected as liquidity remains to be deployed,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
The 91-day paper fetched a rate of 1.077 percent, 1.1 basis points (bps) up from the previous average of 1.066 percent.
Tenders totaled to P14.61 billion, nearly three times oversubscribed versus the P5 billion fully awarded offer.
For the 182-day securities, the rate is 1.408 percent, which inched up from the previous average of 1.407 percent.
Demand reached P19.02 billion, almost four times the P5 billion program which was awarded.
Lastly, the yield of the 364-day IOU is 1.612 percent, down by 0.5 bps from the previous average of 1.617 percent.
Tenders amounted to P17.24 billion versus the P5 billion program. — Angela Celis
