FULLY AWARDED. The Bureau of the Treasury fully awards on Tuesday (Oct. 24, 2023) the reissued 10-year T-bonds. It fetched an average rate of 6.954 percent. (PNA file photo)
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued 10-year Treasury bonds (T-bonds) at Tuesday's auction.
With a remaining term of nine years and 10 months, the reissued bond fetched an average rate of 6.954 percent.
The auction attracted PHP48.9 billion in total tenders, surpassing the PHP30-billion offer.
The BTr committee raised the full program of PHP30 billion, bringing the total outstanding volume for the series to PHP90 billion.
In a Viber message, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the average auction yield was higher than the comparable 10-year PHP Bloomberg Valuation Service (BVAL) yield at 6.63 percent as of Oct. 23 this year.
"(It was) also higher versus (the) 6.42 percent (average yield) in the previous 10-year T-bond auction on Sept. 19, 2023, or a little over a month ago," he said.
"The average auction yield (was) also higher amid the lingering geopolitical risks due to the Israel-Hamas war for more than two weeks already, with a potential risk of volatility on global oil prices if the war escalates in the Middle East," Ricafort added. (PNA)
