The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday as rates fell across all tenors.
The 91-, 182- and 364-day securities fetched average rates of 5.552 percent, 5.966 percent and 6.198 percent, respectively.
In a statement, the BTr said the rates for all three tenors were lower than previous auction results as well as secondary market rates.
The auction was 3.2 times oversubscribed, attracting P47.6 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
Specifically, the BTr awarded P5 billion as planned for each tenor.
The BTr is scheduled to auction fresh three-year treasury bonds today. The auction will have a programmed offering of P30 billion.
For the entire month, the BTr is eyeing to raise P180 billion from the domestic market through its issuance of treasury bills and treasury bonds.
According to a memorandum posted by the BTr, the government is programmed to borrow a total of P60 billion in treasury bills and P120 billion in treasury bonds. – Angela Celis
