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The Bureau of the Treasury (BTr) partially awarded the reissued 7-year treasury bonds at yesterday’s auction as the rate was capped for the government IOU.
With a remaining term of six years and two months, the bond was awarded at an average rate of 6.468 percent.
Had a full award been made, the rate would have been 6.491 percent, 19.2 basis points up from the previous average of 6.299 percent.
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In the secondary market, the reference rate for the six-year tenor is 6.457 percent.
The auction was 1.4 times oversubscribed as total submitted bids amounted to P43.4 billion.
With the partial award, the BTr raised P23.6 billion out of the P30 billion offering.
This brings the total outstanding volume for the series to P145.4 billion.
