The Bureau of Treasury sold just P25.1 billion of its scheduled P35-billion treasury bonds sale Wednesday.
The 10-year bonds with a remaining maturity of four years and 11 months was reissued at a coupon rate of 5.772 percent.
This brings the total outstanding volume for the bonds at P274 billion, the Treasury said.
The bonds attracted a total tender of P55.3 billion.
Rosalia de Leon, national treasurer, said the rise in rates was against the backdrop of analysts’ expectation of “surging inflation and breaching inflation target band.”
“It also tracks the US Treasury’s upward movement as the Fed maintains hawkish stance to battle high inflation,” she said. – Ruelle Castro
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