The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand for the short-term IOUs.
Tenders for the government securities totaled to P43.77 billion, nearly thrice oversubscribed.
The BTr awarded P15 billion as programmed.
“91-day (rate) declined amidst overwhelming demand as market wait-and-see Monetary Board rate action. Parking funds in the meantime,” Rosalia de Leon, national treasurer, said.
“Market also looking for clues whether Fed will pivot or sustain rate hike after payrolls report beat market estimates,” she added.
The 91-day paper fetched a rate of 1.85 percent, 24 basis points (bps) lower than the previous average of 2.09 percent.
Tenders amounted to P18.69 billion, almost four times oversubscribed with the BTr granting the P5 billion program.
As for the 182-day IOUs, the recorded rate is at 3.211 percent, 2.3 bps up versus previous average of 3.188 percent.
Demand reached P17.165 billion, more than three times the P5 billion program which the BTr awarded as planned.
Lastly, the rate for the one-year securities is 3.635 percent, 15.5 bps higher than the previous rate of 3.48 percent.
The tendered amount reached P7.91 billion, with the government awarding P5 billion as programmed. – Angela Celis
