The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday as rates fell below secondary market levels.
The auction was more than twice oversubscribed, with tenders reaching P34.7 billion.
With its decision, the auction committee was able to raise the full program of P15 billion.
“Rates moved sideways with good demand for short-term with supply capped at P15 billion,” Rosalia de Leon, national treasurer, told reporters in a text message after the auction.
The 91-day paper fetched a rate of 1.119 percent, 0.6 basis point (bp) higher than the previous average of 1.113 percent.
Tenders amounted to P9.3 billion, with the BTr granting a full award of P5 billion.
As for the 182-day IOUs, the recorded rate is at 1.387 percent, 0.3 bp lower than the previous average of 1.39 percent.
Demand reached P14.201 billion, nearly three times the P5 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.606 percent, 0.2 bp up from the previous average of 1.604 percent.
The tendered amount reached P11.22 billion, with the government awarding P5 billion as programmed.
