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 3.2 times oversubscribed, attracting P47.2 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
Specifically, the BTr awarded P5 billion as programmed for each of the three tenors.
The 91-, 182- and 364-day securities fetched average rates of 5.744 percent, 5.916 percent and 6.033 percent, respectively.
In comparison, the Bloomberg Valuation Service rates were 5.773 percent for the three-month tenor, 5.958 percent for the six-month tenor and 6.02 percent for the one-year tenor.
Amid the strong interest, the BTr also opened the over-the-counter sale of 364-day treasury bills for government-owned and -controlled corporation-tax exempt institutions from 2 to 4 pm yesterday.
Meanwhile, the BTr is set to auction 20-year treasury bonds today.
The offering will have a programmed volume of P30 billion.
