The Bureau of the Treasury (BTr) raised P17 billion from the treasury bills it auctioned yesterday amid significant market demand, and as rates fell across all tenors.
The auction was more than four times oversubscribed, with tenders reaching P63.9 billion.
This prompted the BTr to double the accepted non-competitive bids for the 364-day securities.
With its decision, the auction committee raised P17 billion versus the P15 billion program.
“Liquidity very much around, and P22 billion in maturities this week,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
“Placements remain in short tenor buckets,” she added.
The 91-day paper fetched a rate of 1.06 percent, one basis point (bps) lower than the previous average of 1.07 percent.
Tenders amounted to P17.24 billion, more than three times the P5 billion that was fully awarded.
As for the 182-day IOUs, the recorded rate is 1.385 percent, 0.4 bps lower than the 1.389 percent yield recorded in the previous auction for the same tenor.
Demand reached P21.505 billion, more than four times the P5 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.582 percent, 1.5 bps down from the previous average of 1.597 percent.
The tendered amount reached P25.12 billion, more than five times oversubscribed.
The government awarded P7 billion for the one-year paper, versus the P5 billion program.
