The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday even as rates rose across the board.
The auction was oversubscribed with total bids reaching P74.8 billion, nearly four times the P20 billion offering.
The rates, while all increasing from the previous auction for the same tenors, were all lower than secondary benchmark rates.
“Liquidity is very much around and rates remain low as markets see November inflation as one off, with recent typhoons,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction yesterday.
The 91-day paper fetched a rate of 1.015 percent, 0.9 basis points (bps) up from the previous average of 1.006 percent.
Tenders totaled to P17.11 billion, more than three times the P5 billion program, which the committee awarded as programmed.
For the 182-day securities, the rate is 1.399 percent, 1.3 bps higher than the previously recorded yield of 1.386 percent.
Demand reached P15.83 billion, more than thrice oversubscribed versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.695 percent, 0.2 bps up from the previous average of 1.693 percent.
Tenders amounted to P42.097 billion, with the government awarding P10 billion as programmed.
