The Bureau of the Treasury (BTr) made a full award on the treasury bills auctioned yesterday even as rates rose across all tenors.
The auction was oversubscribed with total bids reaching P41 billion, more than twice the P20 billion initial offer.
The 91-day paper fetched a rate of 1.04 percent, 16.5 basis points (bps) up from the previous average of 0.875 percent.
Tenders totaled to P7.6 billion, with the auction committee awarding P5 billion as programmed.
For the 182-day securities, the rate is 1.226 percent, 15.9 bps higher than the previously recorded yield of 1.067 percent.
Demand reached P8.462 versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.68 percent, 15.3 bps up from the previous average of 1.527 percent.
Tenders amounted to P24.995 billion, with the government awarding P10 billion as programmed.
Rosalia de Leon, national treasurer, said the BTr did not open the tap facility window this time.
De Leon also opted not to give a statement on the rates.
Last week, rates also rose across all tenors, with the BTr also awarding bids for the treasury bills.
De Leon said after last week’s auction the adjustment is a correction as United States treasuries moved up with bright prospects for the Biden administration’s stimulus plan. – Angela Celis