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.
According to the BTr’s statement, the auction was 3.2 times oversubscribed, with total bids reaching P64.5 billion.
This prompted the agency to double 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 fourth consecutive week that the BTr has upsized the amount it awarded for the treasury bills.
The 91-, 182- and 364-day securities fetched average rates of 5.84 percent, 5.98 percent and 6.029 percent, respectively.
These are all lower than the previous auction and prevailing secondary market rates
The BTr is set to auction off seven-year treasury bonds for today’s auction.
It has a programmed volume of P30 billion.
