P28.2-B T-bills sold, 91-day fetches 1.306%
The Bureau of the Treasury fully awarded bids for short-dated IOUs at Monday’s auction, May 3.
The three-month, six-month and one-year Treasury bills fetched average rates of 1.306 percent, 1.629 percent and 1.863 percent, respectively—all lower than previous auction and secondary market trading levels.
The auction was almost four-times oversubscribed with total bids reaching P94 billion, prompting the bureau to accept additional offerings for the 182-day tenor. With the decision, the government raised a total P28.2 billion, higher than the initial P25 billion program.
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