The Bureau of the Treasury fully awarded bids for the treasury bills auctioned yesterday amid healthy market demand for the government IOUs.
The auction was oversubscribed with total bids reaching P56.7 billion, more than 2.8 times the P20 billion offering.
“Rates remain low even with adjustment on 182-day,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
“Good demand remains with volume received in the auction,” she added.
The 91-day paper fetched a rate of 1.167 percent, 1.3 basis points (bps) down from the previous average of 1.18 percent.
Tenders totaled to P19.028 billion, nearly four times the P5 billion program which was fully awarded by the committee.
For the 182-day securities, the rate is 1.518 percent, 9.7 bps higher than the previously recorded yield of 1.421 percent.
Demand reached P11.008 billion, more than two times oversubscribed versus the P5 billion fully awarded offering.
Lastly, the yield of the 364-day IOU is 1.807 percent, 1.9 bps up from the previous rate of 1.788 percent.
Tenders amounted to P26.651 billion, with the government awarding P10 billion as programmed. — Angela Celis