National Treasurer Rosalia de Leon
MANILA – Demand for government securities continues, resulting in the doubling of the award for non-competitive bids for the Philippines’ 91-day and 364-day Treasury bill (T-bill) Monday.
The average rate of the three-month paper declined to 2.046 percent, the 182-day to 2.118 percent, and the one-year to 2.42 percent.
These were at 2.058 percent, 2.114 percent, and 2.508 percent during the auction last May 26.
The Bureau of the Treasury (BTr) awarded PHP7 billion worth of three-month paper from the original PHP5-billion offer after non-competitive bids awards reached PHP4 billion.
Total bids amounted to PHP17.35 billion.
The six-month paper was fully awarded at PHP5 billion while bids amounted to PHP15.55 billion.
Awards for the one-year paper totaled to PHP14 billion, with the non-competitive bids at PHP8 billion. Total tenders reached PHP51.095 billion.
The auction committee offered the one-year paper through the tap facility for PHP10 billion and was fully awarded after bids totaled to PHP28.6 billion.
National Treasurer Rosalia de Leon told journalists that demand for safe assets was due to positive sentiments.
“(We are) watchful of developments and risk-return tolerance of investors,” she added when asked for the possibility of retail treasury bond (RTB) issuance. (PNA)
