The Bureau of the Treasury has fully awarded bids for short-dated IOUs at Monday’s auction, August 23.
The 91-, 182-, and 364-day Treasury bills fetched average rates of 1.077 percent, 1.408 percent and 1.612 percent, respectively.
All tenors were lower than secondary market rates. The auction was also more the three-times oversubscribed with total tenders reaching P50.9 billion.
With the decision, the national government raised the full program of P15 billion.
National Treasurer Rosalia de Leon said the auction was “well participated” and results were expected as liquidity remained to be deployed. The treasury bureau opted not to open its tap facility to accommodate additional offers.