The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid significant demand for the short-term IOUs.
The auction was 3.5 times oversubscribed, attracting P69.9 billion in total tenders.
With its decision, the BTr raised the full program of P20 billion for the auction.
The 91-, 182- and 364-day T-bills fetched average rates of 5.605 percent, 5.735 percent and 5.786 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.327 percent for the three-month tenor, 5.796 percent for the six-month tenor and 5.801 percent for the one-year tenor.
The government is eyeing to generate funds amounting to P310 billion in the last quarter of the year through its regular issuance of treasury bills and treasury bonds.
The BTr is looking to raise P220 billion via its treasury bills auction from October to December, and P90 billion by offering treasury bonds.
