The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday as rates fell across all tenors.
The auction was nearly four times oversubscribed with total tenders reaching P59.8 billion.
The BTr awarded the P15 billion offering as planned.
The rates of the 91-day, 182-day and 364-day IOUs were all lower than previous auction results as well as secondary market benchmark rates.
“Strong buying interest in the front end. Bids declined with inflation further decelerating to three percent according to survey,” Rosalia de Leon, national treasurer, told reporters after the auction.
The 91-day paper fetched a rate of 0.691 percent, 0.2 basis points (bps) lower than the previous average of 0.993 percent.
Tenders amounted to P17.2 billion, more than three times oversubscribed with the BTr granting a full award of P5 billion.
As for the 182-day IOUs, the recorded rate is at 1.023 percent, 5.4 bps down versus the previous average of 1.077 percent.
Demand reached P24 billion, nearly five times the P5 billion programmed which was fully awarded by the BTr.
Lastly, the rate for the one-year securities is 1.408 percent, 0.2 bps down from the previous average of 1.41 percent.
The tendered amount reached P18.57 billion, with the government awarding P5 billion as programmed. – Angela Celis
