(File photo)
MANILA – The Bureau of the Treasury (BTr) on Tuesday 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 Oct. 14.
The auction yield, however, declined from the 6.128 percent in the seven-year T-bond auction on Aug. 13.
The auction attracted PHP40.9 billion in total tenders, 2.7 times the PHP15 billion offer.
With its decision, the committee raised the full program of PHP15 billion, bringing the total outstanding volume for the series to PHP205 billion. (PNA)
