The Bureau of the Treasury (BTr) has raised P19 billion via its treasury bills auction yesterday, as rates fell across all tenors.
The auction was 4.8 times oversubscribed with total tenders reaching P71.3 billion.
The BTr awarded P19 billion instead of the P15 billion program, as it doubled the accepted non-competitive bids for the 91-day and 182-day securities.
“Markets flocked to short-term as oil prices ease with release of reserves from stockpile,” Rosalia de Leon, national treasurer, told reporters after the auction.
“Maturities also added support for reinvestment,” she added.
The 91-day paper fetched a rate of 1.25 percent, 13 basis points (bps) lower than the previous average of 1.38 percent.
Tenders amounted to P32.73 billion, more than six times oversubscribed with the BTr granting P7 billion versus the P5 billion program.
As for the 182-day IOUs, the recorded rate is at 1.56 percent, 22.6 bps down versus previous average of 1.78 percent.
Demand reached P27.5 billion, over five times the P5 billion program, with the BTr awarding P7 billion for the half-year paper.
Lastly, the rate for the one-year securities is 1.86 percent, 2.6 bps lower than the previous rate of 1.88 percent.
The tendered amount reached P11.02 billion, with the government awarding P5 billion as programmed.
