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THE Bureau of the Treasury (BTr) has upsized the amount it awarded for the auctioned treasury bills yesterday amid significant demand for the short-term IOUs.
The auction was 3.1 times oversubscribed with total bids reaching P61.3 billion.
This prompted the BTr to increase the accepted non-competitive bids for the 182-day securities.
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With its decision, the BTr raised a total of P22.6 billion compared to the P20 billion initial offer.
The 91-, 182- and 364-day securities fetched average rates of 5.94 percent, 5.989 percent and 6.023 percent, respectively.
These are all lower than secondary market benchmark rates.
The BTr is set to auction off 20-year treasury bonds for today’s auction.
It has a programmed volume of P30 billion.
