The Bureau of the Treasury (BTr) made a full award on the treasury bills auctioned yesterday as rates fell and amid healthy market demand.
The total bids for all tenors reached P76.4 billion, nearly four times the P20 billion offering.
The BTr also opened the tap facility window for the one-year paper for another P5 billion.
Rosalia de Leon, national treasurer, said the announcement to shift to modified enhanced community quarantine in Metro Manila and nearby provinces had no impact on the demand for these government IOUs.
“None (no impact), with overwhelming subscription and continued fall in rates with surplus liquidity and preference for haven assets,” de Leon said.
The 91-day paper fetched a rate of 1.221 percent, 11.4 basis points (bps) down from the previous average of 1.335 percent.
Tenders totaled to P25.51 billion, more than five times the P5 billion program which was fully awarded by the committee.
For the 182-day securities, the rate is 1.454 percent, 15.1 bps lower than the previously recorded yield of 1.605 percent.
Demand reached P23.585 billion, nearly five times oversubscribed versus the P5 billion fully awarded offering.
Lastly, the yield of the 364-day IOU is 1.749 percent, 0.9 bps down from the previous rate of 1.758 percent.
Tenders amounted to P27.31 billion, with the government awarding P10 billion as programmed.