The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid strong market demand and as rates fell across all tenors.
The auction was more than five times oversubscribed, with total tenders reaching P76.4 billion.
Thus, the BTr was able to raise the full program of P15 billion for the auction.
The 91-day, 182-day and 364-day IOUs fetched average rates of 0.693 percent, 1.077 percent and 1.41 percent, respectively, which were all lower than previous auction results as well as secondary market benchmark rates.
“Full award for all Tbill tenors. Waiting for signal from Fed for rate liftoff, strong bias for short-term tenors was seen in the auction with sharp reduction on rates,” Rosalia de Leon, national treasurer, said after the auction.
Meanwhile, the government has again declared a “failed bidding” for five luxury vehicles that were placed on the auction block for the second time yesterday.
The first auction for the said cars was held last December, where a “failed bidding” was also declared.
No bidders participated in both auctions of the Porsche Boxster (2001 model) with a floor price of P1.8 million, Mercedes SLK 350 (2001 model) with a floor price of P1.25 million, Ferrari Scuderia 430 (2008 model) with a floor price of P23.22 million, Mercedes Benz SLK55 (2001 model) with a floor price of P1.32 million and Mercedes Benz E220 (2011 model) with a floor price of P1.49 million.
The vehicles were all seized in May and June last year and were issued final and executory orders of forfeiture by the Bureau of Customs.
Carlos Dominguez, Department of Finance secretary, told reporters via Viber that “destruction is an option.”
