The Bureau of the Treasury’s (BTr) treasury bills fetched strong demand during its auction yesterday.
The tenders amounted to P41.3 billion, more than four times oversubscribed.
With a full award, the BTr raised the full program of P10 billion.
The average rates of the 92-day, 183-day and 365-day IOUs were all lower than secondary market benchmark rates.
“Rates slightly lower for 92- and 183-day, and less than a basis point (bp) higher for the 365-day,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction yesterday.
“Bias continues on short-end with Omicron (coronavirus variant) uncertainties and (as) market awaits November inflation print,” she added.
The 92-day paper fetched a rate of 1.115 percent, 0.9 bp lower than the previous average of 1.164 percent.
Tenders amounted to P13.3 billion, more than six times oversubscribed, with the BTr granting a full award of P2 billion.
As for the 183-day IOUs, the recorded rate is at 1.443 percent, 0.6 bp down versus previous average of 1.449 percent.
Demand reached P16.012 billion, more than five times the P3 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.643 percent, 0.7 bp up from the previous average of 1.636 percent.
The tendered amount reached P11.97 billion, with the government awarding P5 billion as programmed. – Angela Celis