The Bureau of the Treasury (BTr) has partially awarded bids during yesterday’s treasury bills auction as it capped rates across all tenors.
Investors sought higher rates for the short-term IOUs, however the BTr capped the rates for the 91-, 182- and 364-day securities at 5.869 percent, 5.993 percent and 6.209 percent, respectively.
The auction was 1.2 times oversubscribed with total tenders reaching P17.6 billion.
With its decision, the BTr raised P10.6 billion of the P15 billion total offering.
Broken down, the BTr awarded P2.607 billion for the 91-day paper, P3.236 billion for the 182-day IOU, and P4.729 billion for the 364-day securities.
This is in contrast to the P5 billion programmed per tenor.
Meanwhile, the BTr is set to auction seven-year treasury bonds today with a volume of P25 billion.
