The Bureau of the Treasury (BTr) fully awarded bids for the treasury bills auctioned yesterday amid the continuous healthy demand for the short-term IOUs.
The auction was oversubscribed with total bids reaching P76 billion, more than the P20 billion offering.
“Minimal movement in rates as market sees Monetary Board on a stay mood for the Thursday policy meeting,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
“Liquidity bountiful with more than adequate bid cover across tenors,” she added.
The 91-day paper fetched a rate of 1.022 percent, 0.7 basis points (bps) up from the previous average of 1.015 percent.
Tenders totaled to P16.218 billion, more than three times the P5 billion program, which the committee awarded as programmed.
For the 182-day securities, the rate is 1.4 percent, 0.1 bps higher than the previously recorded yield of 1.399 percent.
Demand reached P14.84 billion, nearly thrice oversubscribed versus the P5 billion offering, which was fully awarded by the government.
Lastly, the yield of the 364-day IOU is 1.686 percent, 0.9 bps down from the previous average of 1.695 percent.
Tenders amounted to P44.943 billion, with the government awarding P10 billion as programmed. – A. Celis