The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand and as rates fell across all tenors.
The auction was oversubscribed with total bids reaching P81.8 billion, more than four times the P20 billion offering.
The 90-, 182- and 364-day securities fetched rates that were all lower than previous auction and secondary market benchmark rates.
“Full award with hefty submission with rates aligned with secondary levels.
Demonstrates sustained liquidity onshore,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
The 91-day paper fetched a rate of 1.079 percent, 0.7 basis points (bps) down from the previous average of 1.086 percent.
Tenders totaled to P23.44 billion, nearly five times the P5 billion program which was fully awarded by the committee.
For the 182-day securities, the rate is 1.543 percent, 5.4 bps lower than the previously recorded yield of 1.597 percent.
Demand reached P27.576 billion, more than five times oversubscribed versus the P5 billion fully awarded offering.
Lastly, the yield of the 364-day IOU is 1.791 percent, 0.2 bps down from the previous rate of 1.793 percent.
Tenders amounted to P30.809 billion, with the government awarding P10 billion as programmed.
De Leon said the BTr also opened the tap facility window for the 182-day and one-year IOUs, for P5 billion each. – A. Celis