The Bureau of the Treasury (BTr) has fully awarded bids for the five-year treasury bonds auctioned yesterday, as rates fell within market levels.
The total tenders for the reissued IOUs reached P60.6 billion, more than 1.7 times the P35 billion offering.
The BTr raised the full program for the government securities, which had four years and two months to maturity.
“Despite hawkish tone from Fed, rates remained within market levels with expectation on cooling inflation and continued supportive monetary stance,” Rosalia de Leon, national treasurer, said after the auction.
The treasury bonds fetched an average rate of 4.089 percent, 7.7 basis points higher than the previous yield of 4.012 percent.
The rate in the secondary market for the same tenor in the previous day is 4.27 percent.
Last Monday, the BTr also fully awarded bids for the treasury bills auctioned as rates fell across all tenors.
The auction was nearly four times oversubscribed with total tenders reaching P59.8 billion.
The BTr awarded the P15 billion offering as planned. – Angela Celis
