The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results as rates were capped for the half-year and one-year IOUs.
The BTr fully awarded bids for the 91-day paper while partially awarding the 182- and 364-day securities.
The 91-day treasury bills fetched an average rate of 5.704 percent.
On the other hand, the 182- and 364-day securities were capped at 5.945 percent and 6.325 percent, respectively.
The rates were within the secondary market figures of 5.858 percent and 6.055 percent for the three-month and six-month IOUs, respectively.
Meanwhile, the one-year rate is slightly higher than the 6.276 percent Bloomberg Valuation Service reference rate for the same tenor.
The auction was 2.7 times oversubscribed, with total tenders reaching P40.4 billion.
With its decision, the BTr raised P12.2 billion of the P15 billion total offering. – Angela Celis
