Article by:
Anna Leah Gonzales
MANILA – The Bureau of the Treasury (BTr) raised PHP30 billion from the Treasury bond (T-bond) auction on Tuesday.
With a remaining term of five years and three months, the T-bond fetched an average rate of 6.328 percent, lower than the prevailing secondary market level.
The comparative five-year PHP Bloomberg Valuation (BVAL) was at 6.4139 percent.
The auction was 2.3 times oversubscribed with total tenders reaching PHP70.4 billion.
Rizal Commercial Banking Corporation chief economist Michael Ricafort said this could indicate strong market demand to lock in T-bond yields before they go down further.
With the full award, the Committee raised the full program of PHP30 billion, bringing the outstanding volume for the series to PHP443.3 billion. (PNA)
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