Full award made on Tbills

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    The Bureau of the Treasury has fully awarded bids for the treasury bills auctioned yesterday as rates fell across all tenors.

    The auction was oversubscribed with total bids reaching P64.3 billion, more than 3.2 times the P20 billion offering.

    The rates of the 91-day, 182-day and 364-day papers were also below secondary benchmark rates.

    “Rates declined with strong demand on short tenors as investors await highlights of President Duterte’s State of the Nation Address to address health crisis and unveil recovery plan,” Rosalia de Leon, national treasurer, told reporters through Viber after the auction.

    De Leon said the tap facility window for the one-year securities was opened for another P5 billion.

    The 91-day paper fetched a rate of 1.335 percent, 11.9 basis points (bps) down from the previous average of 1.454 percent.

    Tenders totaled to P21.791 billion, more than four times the P5 billion program which was fully awarded by the committee.

    For the 182-day securities, the rate is 1.605 percent, 2 bps lower than the previously recorded yield of 1.625 percent.

    Demand reached P16.65 billion, more than thrice oversubscribed versus the P5 billion fully awarded offering.

    Lastly, the yield of the 364-day IOU is 1.758 percent, 1.2 bps down from the previous rate of 1.77 percent.

    Tenders amounted to P25.957 billion, with the government awarding P10 billion as programmed.