The Bureau of the Treasury (BTr) fully awarded its P25 billion Treasury bill (T-bill) offer on Monday, buoyed by robust investor appetite.
Bids reached P154.2 billion, more than six times the offer volume, underscoring the strong market confidence in short-term government securities, a BTr official said.
“The oversubscription reflects robust market appetite for government securities,” Ma. Trisha Querijero, officer-in-charge of the BTr’s Financial Market Monitoring and Analysis Division, said on Monday.
Average rates settled at 4.950 percent for the 91-day tenor, 5.148 percent for the 182-day, and 5.272 percent for the 364-day.
The heavy subscription allowed the BTr to meet its borrowing target in full, with demand spread across all three maturities.
