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The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results as rates were capped for the longer tenors.
The BTr decided to fully award bids for the 92-day securities.
Meanwhile, the agency partially awarded the 183-day and 365-day IOUs. The 92-day paper fetched an average rate of 6.086 percent.
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The 183- and 365-day securities were capped at 6.144 percent and 6.219 percent, respectively.
Had full awards been made, the rate for the six-month IOU would have been 6.284 percent, while it would have been 6.329 percent for the one-year paper.
The auction was 1.2 times oversubscribed, attracting P17.6 billion in total tenders.
With its decision, the BTr raised P10.6 billion of the P15 billion total offering. – Angela Celis
