THE Bureau of the Treasury (BTr) on Tuesday, October 15, fully awarded bids for the reissued 10-year Treasury bonds (T-bonds).
With a remaining term of six years and nine months, the reissued bonds fetched an average rate of 5.690 percent, aligning with prevailing secondary market rates.
Rizal Commercial Banking Corp. chief economist Michael Ricafort said the average auction yield was just slightly lower versus the comparable seven-year PHP Bloomberg Valuation Service yield at 5.70 percent as of October 14.
The auction yield, however, declined from the 6.128 percent in the seven-year T-bond auction on Aug. 13.
The auction attracted P40.9 billion in total tenders, 2.7 times the P15-billion offer.
With its decision, the committee raised the full program of P15 billion, bringing the total outstanding volume for the series to P205 billion. (PNA)
