THE Bureau of the Treasury (BTr) made a full award on the 35-day treasury bills auctioned yesterday on healthy demand and amid a further decline in rates.
The BTr said in a statement the auction was more than twice oversubscribed, attracting a total of P33.4 billion in tenders.
The committee raised P15 billion as planned through the successful auction.
“Rates further declined from the previous 35-day auction,” Rosalia de Leon, national treasurer, told reporters through Viber.
The 35-day paper fetched an average rate of 2.024 percent, 1.8 basis points lower than previous rate of 2.042 percent.
“(We) saw sustained investor strong preference for short-end with twice subscription for P15 billion offering,” de Leon said.
Aside from fully awarding the offer for the 35-day IOU, the BTr also opened the tap facility window for the same tenor for another P10 billion.
