The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results yesterday as investors sought higher rates.
Total tenders for the 91-day, 182-day and 364-day IOUs reached P23.7 billion, 1.5 times oversubscribed versus the P15 billion program.
The BTr opted to award only P12.6 billion as it capped rates for the one-year paper, resulting in a partial award for the said tenor.
The BTr fully awarded bids for the 91-day and 182-day securities.
The 91-day paper fetched a rate of 1.272 percent, 13.2 basis points (bps) higher than the previous average of 1.14 percent.
Tenders amounted to P10.536 billion, more than twice oversubscribed with the BTr granting the P5 billion program.
As for the 182-day IOUs, the recorded rate is at 1.635 percent, 7.7 bps up versus previous average of 1.558 percent.
Demand reached P8.582 billion versus the P5 billion program which the BTr awarded as planned.
For the one-year securities, the rate was capped at 1.933 percent, 3.2 bps higher than the previous rate of 1.901 percent. – Angela Celis
