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The Bureau of the Treasury’s (BTr) treasury bills auction yesterday ended with mixed results as investors sought higher rates for some of the tenors.
The BTr decided to fully award bids for the 363-day securities.
It partially awarded the 91-day paper while it rejected bids for t he 181-day IOU.
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The 363-day security fetched an average rate of 6.247 percent while the 91-day paper was capped at six percent.
The average rate for the 181-day securities on the other hand would have reached 6.23 percent, had it been awarded.
The auction was 1.5 times oversubscribed, attracting P22.1 billion in total tenders.
With its decision, the BTr raised P6.9 billion of the P15 billion offering. – Angela Celis
