BTr makes full award on Tbill bids at auction

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    The Bureau of the Treasury fully awarded bids for the treasury bills auctioned yesterday, with healthy demand seen in all tenors.

    The auction was oversubscribed with total bids reaching P72.8 billion, more than 3.6 times the P20 billion offering.

    “Full award for all tenors as rates for 182-day and 364-day slightly pushed up with expectations BSP (Bangko Sentral ng Pilipinas) will keep policy rates steady for the remainder of year,” Rosalia de Leon, national treasurer, told reporters in a Viber group after

    the auction yesterday.
    “Demand remains strong with oversubscription in all tenor buckets,” she added.

    The 91-day paper fetched a rate of 1.156 percent, 0.6 basis points (bps) up from the previous average of 1.15 percent.

    Tenders totaled to P26.93 billion, more than five times the P5 billion program which was fully awarded by the committee.

    For the 182-day securities, the rate is 1.615 percent, 2.6 bps higher than the previously recorded yield of 1.59 percent.

    Demand reached P14 billion, nearly three times oversubscribed versus the P5 billion fully awarded offering.

    Lastly, the yield of the 364-day IOU is 1.85 percent, 4.3 bps up from the previous rate of 1.807 percent.

    Tenders amounted to P31.96 billion, with the government awarding P10 billion as programmed. – A. Celis