BTr makes full award of Tbonds at P30B

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The Bureau of the Treasury (BTr) made a full award on the three-year treasury bonds yesterday amid continued strong demand for government IOUs.

Tenders for the reissued debt paper, with remaining life of two years and 10 months, were more than four times oversubscribed as they reached P124.201 billion versus the P30-billion offer.

The yield for the treasury bonds is 2.558 percent.

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This is below the previous average of 2.946 percent, by 38.8 basis points. Bids ranged between 2.55 percent and 2.57 percent.

“Market flushed with liquidity and earn real positive rates given benign inflation,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.

De Leon said the tap facility window for the three-year securities was opened, for another P20 billion.

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