The Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday as rates across all tenors fell below prevailing secondary market rates.
The 91-, 183- and 364-day securities fetched average rates of 5.666 percent, 5.93 percent and 6.031 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.728 percent for the three-month tenor, 5.958 percent for the six-month tenor and 6.078 percent for the one-year tenor.
The auction was 2.7 times oversubscribed, attracting P39.8 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction. Specifically, the BTr awarded P5 billion per tenor.
The BTr is set to auction 20-year treasury bonds today. The bond offering has a programmed volume of P30 billion.
