The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday even as rates rose across all tenors.
The 91-, 182- and 364-day securities fetched average rates of 5.595 percent, 5.968 percent and 6.119 percent, respectively.
In comparison, the rates for the short-term IOUs last week were 5.552 percent for the three-month paper, 5.939 percent for the half-year security and 6.073 percent for the one-year treasury bill.
In the secondary market, the rates for each tenor were 5.61 percent, 5.944 percent and 6.096 percent, respectively.
The auction saw healthy demand and was 2.7 times oversubscribed, attracting P40.2 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
Specifically, P5 billion was awarded as planned for each tenor.
The BTr is set to auction three-year treasury bonds today with a programmed volume of P30 billion. – Angela Celis
