(File photo)
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 20-year Treasury bonds (T-bonds).
With a remaining term of 19 years and 10 months, the re-issued bond fetched an average rate of 6.430 percent.
The comparative PHP Bloomberg Valuation Service rate was slightly lower at 6.39 percent as of July 22 this year.
"The 20-year Treasury bond average auction yield declined by -0.43 month-on-month to 6.43%, versus 6.86% in the previous 20-year T-bond auction on June 26, 2024 as reiterated signals by some local monetary authorities and market expectations of a 0.25 local policy rate cut on August 15, 2024 draw closer," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.
The auction was 1.8 times oversubscribed with total tenders reaching PHP45 billion.
With its decision, the BTr raised the full program of PHP25 billion, bringing the total outstanding volume for the series to PHP77.7 billion. (PNA)
