The Bureau of the Treasury (BTr) on Tuesday fully-awarded its P35-billion worth of reissued 25-year Treasury bonds (T-bonds) despite investors demanding for yield higher than secondary market rates.
THE Bureau of the Treasury on Tuesday fully-awarded its P35-billion worth of reissued 25-year Treasury bonds despite investors demanding for yield higher than secondary market rates.
The MB is expected to deliver a 75-basis point increase in interest rates at its Thursday meeting to match the recent rate hike implemented by the US Federal Reserve.The full-award on Tuesday’s auction had an average yield of 8.168 percent, 42.7 basis points higher than the secondary market rate of 7.741 percent for a 12-year bond.Tuesday’s auction was oversubscribed as the total amount tendered by investors reached P80.953 billion, more than double of the P35-billion offer.
Last Monday, the national government was only able to raise a little over half of the proceeds it intended to raise from the T-bills sale.
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