The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday, as it fetched healthy market demand.
The auction was nearly four times oversubscribed with total bids reaching P75.9 billion.
With its decision, the committee raised the full program of P20 billion.
The rates were all lower than secondary market benchmark rates, however, it was only the 364-day paper that posted an average below that of the previous rate.
“The increase in 91-day was due to expected higher inflation print in November, following the spate of typhoons,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
The 91-day paper fetched a rate of 1.006 percent, two basis points (bps) up from the previous average of 0.986 percent.
Tenders totaled to P19.321 billion, nearly four times the P5 billion program, which the committee awarded as programmed.
For the 182-day securities, the rate is 1.386 percent, 0.1 bps higher than the previously recorded yield of 1.385 percent.
Demand reached P20.41 billion, more than four times oversubscribed versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.693 percent, 0.2 bps down from the previous average of 1.695 percent.
Tenders amounted to P36.175 billion, with the government awarding P10 billion as programmed.