The Bureau of the Treasury has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand for the government IOUs.
Tenders for the short-term securities totaled to P49.3 billion, more than thrice the P15 billion offering.
The rates for the 91-day, 182-day and 364-day treasury bills were higher than previous average but were lower than secondary market rates.
“Slight increase (in rates) with better PMI (purchasing managers index) reading for June yet still lingering concerns on Delta variant and inflation still above target,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
The 91-day paper fetched a rate of 1.044 percent, 1.3 basis points (bps) up from the previous average of 1.031 percent.
Tenders totaled to P16.55 billion, more than three times oversubscribed versus the P5 billion fully awarded offer.
For the 182-day securities, the rate is 1.351 percent, 1.9 bps higher versus the previously recorded yield of 1.332 percent.
Demand reached P16.112 billion, more than three times the P5 billion program which was awarded.
Lastly, the yield of the 364-day IOU is 1.568 percent, up by 0.6 bps from the previous average of 1.562 percent.
Tenders amounted to P16.66 billion, also more than thrice the P5 billion program
