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 2.7 times oversubscribed with total bids reaching P53.4 billion, prompting the BTr to increase the accepted non-competitive bids for the 182-day securities.
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 5.966 percent, 5.996 percent and 6.022 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.925 percent for the three-month tenor, 6.056 percent for the six-month tenor and 6.104 percent for the one-year tenor.
The BTr is set to auction off 20-year treasury bonds for today’s auction.
It has a programmed volume of P30 billion.
