The Bureau of the Treasury (BTr) has fully awarded bids for the reissued 10-year treasury bonds during yesterday’s auction as it fetched rates below the secondary market benchmark.
With a remaining term of nine years and three months, the government securities fetched an average rate of 5.958 percent.
In comparison, the Bloomberg Valuation Service rate for the nine-year tenor is 5.971 percent.
The auction attracted P74.8 billion in total tenders or three times the P25 billion offer.
With its decision, the BTr raised the full program of P25 billion.
This brings the total outstanding volume for the series to P215 billion.
Last Monday, the BTr also fully awarded bids for the auctioned treasury bills as rates were within the secondary market level.
The 91-, 182- and 364-day IOUs fetched average rates of 5.783 percent, 5.879 percent and 5.948 percent, respectively.
The BTr raised the full program of P15 billion for the auction. – Angela Celis
