Treasury bill bid results mixed

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The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results as rates were capped for the higher tenors.

The BTr decided to fully award bids for the 91-day while partially awarding the 182- and 364-day securities.

The 91-day IOU fetched an average rate of 6.352 percent.

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Meanwhile, the 182- and 364-day tenors were capped at 6.536 percent and 6.591 percent, respectively.

Had full awards been made, the rate for the 182-day paper would have been 6.545 percent, while it would have been 6.621 percent for the one-year treasury bill.

In the secondary market, the reference rates for the three-month, six-month and one-year securities were 6.171 percent, 6.397 percent and 6.583 percent, respectively.

The auction was 2.2 times oversubscribed, attracting P32.3 billion in total tenders.

With its decision, the BTr raised P13.2 billion of the P15 billion total offering.

 

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