The Bureau of the Treasury (BTr) has once again 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 P53.1 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.
This is the third consecutive week that the BTr has upsized the amount it awarded for the treasury bills.
The 91-, 182-, and 364-day T-bills fetched average rates of 5.947 percent, 6.002 percent and 6.04 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.9154 percent for the three-month tenor, 5.9986 percent for the six-month tenor and 6.0825 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.
