The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand and as rates fell below secondary market levels.
The auction for the short-term IOUs was more than three times oversubscribed with total bids reaching P53.3 billion.
The BTr awarded P15 billion as programmed.
“Rates (are) around these levels following inflation forecast (which) remains around four to 4.1 percent area,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
“This is also supported by strong liquidity,” she added.
The 91-day paper fetched a rate of 1.066 percent, 0.2 basis points (bps) up from the previous average of 1.064 percent.
Tenders totaled to P17.471 billion, more than three times oversubscribed versus the P5 billion fully awarded offer.
For the 182-day securities, the rate is 1.407 percent, same as the previous yield.
Demand reached P18.48 billion, also more than thrice the P5 billion program which was awarded.
