The government raised P30 billion in Tuesday’s auction of reissued five-year Treasury bonds, with strong investor appetite driving down yields.
The Bureau of the Treasury said the auction committee made a full award for the reissued FXTN 07-70 at an average rate of 5.772 percent.
The sale drew total tenders of P79.7 billion, 2.7 times the offer, lifting the series’ outstanding volume to P386.7 billion.
Robust demand pushed the yield below both the rate in the previous auction and the prevailing level in the secondary market, underscoring sustained investor confidence in government securities.
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