THE Bureau of the Treasury (BTr) made a full award for the one-year treasury bond auctioned yesterday, and opened its tap facility for the said securities amid strong investor demand.
The auction of the government security, with remaining life of 11 months, attracted tenders of P66.7 billion, more than twice the P30 billion offer.
Rosalia de Leon, national treasurer, cited strong onshore liquidity for the auction results.
“Full award today. Two times bid cover ratio. Rate within secondary level,” de Leon told reporters through Viber yesterday.
“Liquidity is strong with accommodating statements from (Bangko Sentral ng Pilipinas) governor (Benjamin Diokno),” she added.
The treasury bond fetched a rate of 3.675 percent, which the auction committee said was lower than the secondary market benchmark rate.
The BTr also opened the tap facility window for the one-year IOUs, for an additional volume of P10 billion.
De Leon meanwhile said funds are ready to be deployed for the government’s social amelioration and wage subsidy programs, which form part of the strategy against the coronavirus pandemic.
