The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills it auctioned yesterday, even as rates rose versus previous levels.
The total tenders for all tenors reached P42.1 billion, nearly thrice the P15 billion offering.
“No tap. Full award. Rates moved slightly higher as peso breached P50:$1 mark,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
The rates for the 91-day, 182-day and 364-day treasury bills however were all lower than secondary market levels.
The 91-day paper fetched a rate of 1.068 percent, 2.4 basis points (bps) up from the previous average of 1.044 percent.
Tenders totaled to P14.7 billion, nearly three times oversubscribed versus the P5 billion fully awarded offer.
For the 182-day securities, the rate is 1.384 percent, 3.3 bps higher versus the previously recorded yield of 1.351 percent.
Demand reached P14.798 billion, also almost thrice the P5 billion program which was awarded.
Lastly, the yield of the 364-day IOU is 1.593 percent, up by 2.5 bps from the previous average of 1.568 percent.
Tenders amounted to P12.59 billion versus the P5 billion program. – Angela Celis
