On Tuesday, the Bureau of the Treasury (BTr) said that it had fully awarded bids for Treasury bills (T-bills) worth more than P40 billion.
The 91-, 182-, and 364-day T-bills fetched average rates of 5.666%, 5.914%, and 6.046%, respectively—all lower than the prevailing secondary market rates.
The comparative Bloomberg Valuation Service average rates were 5.667% for the three-month tenor, 5.969% for the six-month tenor, and 6.078% for the one-year tenor.
The auction was a hotbed of interest, being 2.7 times oversubscribed and attracting a total of P40.3 billion in tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
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