The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results as rates were capped for securities with longer tenors.
The BTr decided to fully award bids for the 91-day paper while partially awarding the 182- and 364-day IOUs.
The 91-day security fetched an average rate of 4.996 percent.
Meanwhile, the 182- and 364-day treasury bills were capped at 5.267 percent and 5.732 percent, respectively.
The auction was well received by the market, going 3.5 times oversubscribed with P34.7 billion in total tenders.
This allowed the BTr to double the amount of non-competitive bids accepted for the 91-day IOU to raise P9.7 billion of the P10 billion total offering.
The BTr i s set to auction off 10-year treasury bonds today.
The said securities will have programmed volume of P20 billion.
