THE Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday as it saw lower rates.
The 91-, 182- and 364-day securities fetched average rates of 5.63 percent. 5.905 percent and 5.937 percent, respectively.
These are all lower than the prevailing secondary market rates of 5.645 percent for the three-month tenor, 5.924 percent for the six-month tenor and 6.005 percent for the one-year tenor.
The auction was 3.9 times oversubscribed, attracting P57.8 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
The government is eyeing to generate funds amounting to P310 billion in the last quarter of the year, through its regular issuance of treasury bills and treasury bonds. The BTr is looking to raise P220 billion via its treasury bills auction from October to December, and P90 billion by offering treasury bonds.
