The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday, even as rates continue to increase across all tenors.
The auction was oversubscribed with total bids reaching P44 billion, more than twice the P20 billion initial offer.
“Full award for all tenors. Hangover from elevated inflation with rates moving alongside uptrend of US treasuries,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
The 91-day paper fetched a rate of 1.139 percent, 9.9 basis points (bps) up from the previous average of 1.04 percent.
Tenders totaled to P14.467 billion, with the auction committee awarding P5 billion as programmed.
For the 182-day securities, the rate is 1.316 percent, nine bps higher than the previously recorded yield of 1.226 percent.
Demand reached P10.915 billion versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.852 percent, 17.2 bps up from the previous average of 1.68 percent.
Tenders amounted to P18.62 billion, with the government awarding P10 billion as programmed.