The Bureau of the Treasury (BTr) has fully awarded treasury bills during its auction yesterday as rates fell across all tenors.
The auction was 4.1 times oversubscribed with total bids reaching P62 billion.
With its decision, the BTr raised the full program of P15 billion for the auction.
The BTr said the rates for the 91-day, 182-day and 364-day IOUs all fell lower than previous auction results and secondary market rates.
The 91-day paper fetched a rate of 4.211 percent, 3.9 basis points (bps) lower than the previous average of 4.25 percent.
Tenders amounted to P22.36 billion, more than four times oversubscribed, with the government awarding P5 billion.
For the 182-day IOU, the rate is 4.912 percent, 5.5 bps down from the previous yield of 4.967 percent.
Demand was also nearly four times the offer at P19.08 billion, with the P5 billion program fully awarded.
Lastly, the one-year securities recorded a rate of 5.428 percent, 2 bps down from the previous rate of 5.448 percent.
The tenders were four times oversubscribed at P20.57 billion, with the BTr fully awarding P5 billion. – Angela Celis
