THE Bureau of the Treasury (BTr) has partially awarded its reissued 10-year treasury bonds yesterday as investors sought higher rates.
With a remaining term of nine years and seven months, the government securities was awarded at an average rate of 6.754 percent.
Had a full award been made, the rate would have been 6.761 percent.
The Bloomberg Valuation Service rate for the 10-year tenor is 6.709 percent.
The auction was 1.8 times oversubscribed with total tenders reaching P53.1 billion.
With its decision, the BTr raised P26.2 billion out of the P30 billion offering.
This brings the total outstanding volume for the series to P141.9 billion.
Last Monday, the BTr fully awarded bids for the treasury bills auctioned last Monday as rates across all tenors fell below secondary market levels.
The BTr raised the full program of P15 billion for the auction.
