The Bureau of the Treasury (BTr) has fully awarded bids during yesterday’s treasury bills auction amid heathy demand for the government IOUs.
The auction was 2.9 times oversubscribed, attracting P43.2 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
Specifically, P5 billion was awarded for each tenor.
The 91-, 182-, and 364-day securities fetched average rates of 5.226 percent, 5.685 percent and 5.999 percent, respectively.
In comparison, the Bloomberg Valuation Service rates were 5.337 percent for the three month tenor, 5.596 percent for the six-month tenor and 5.973 percent for the one-year tenor.
The rates are all higher than previous average rates.
The BTr is set to auction seven-year treasury bonds with a volume of P30 billion.
