The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday, even as rates rose across all tenors.
The auction for the short-term IOUs was more than twice oversubscribed, with tenders reaching P35.9 billion.
The BTr raised the full amount of P15 billion as programmed.
“Full award for all tenors. Rates rose following upward adjustment for inflation this year and increasing tension in Ukraine,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
Meanwhile, de Leon said there is “good reception” for the ongoing retail treasury bonds (RTB) offering.
“Will have to calibrate March issuance program including size and tenors with RTB results and appetite of market following revision in inflation forecast, Fed rate action and developments in Ukraine,” de Leon said.
The 91-day paper fetched a rate of 0.899 percent, 8.9 basis points (bps) higher than the previous average of 0.81 percent.
Tenders amounted to P13.314 billion, nearly three times oversubscribed with the BTr granting a full award of P5 billion.
As for the 182-day IOUs, the recorded rate is at 1.157 percent, 9.1 bps up versus previous average of 1.066 percent.
Demand reached P11.49 billion, more than twice the P5 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.568 percent, 9.3 bps higher than the 1.475 percent average in the previous auction for the same tenor.
The tendered amount reached P11.12 billion, with the government awarding P5 billion as programmed. – Angela Celis
