The Bureau of the Treasury (BTr) fully awarded bids for the 35-day treasury bills auctioned yesterday, amid continued healthy market demand for government IOUs.
Tenders for the five-week paper totaled to P29.313 billion, nearly twice the P15 billion offering, which was awarded in full.
The 35-day securities fetched a rate of 1.163 percent, lower than prevailing secondary market rates, the BTr said.
However, it saw a 0.6 basis points increase from the previous average of 1.157 percent.
“There remains good demand, (given the) P118 billion (in) maturities,” Rosalia de Leon, national treasurer, said in a Viber group with reporters after the auction.
“Rates flat as market sees BSP (Bangko Sentral ng Pilipinas) decision is to hold,” she added.
The BSP’s Monetary Board is set to meet on Thursday.
Earlier this week, the BTr also made a full award on the auctioned treasury bills amid healthy market demand.
The auction was oversubscribed with total bids reaching P63.3 billion for the short-term IOUs, more than three times the P20 billion offering.