MANILA – The Bureau of the Treasury (BTr) fully awarded on Tuesday a 10-year Treasury bond after it fetched a rate that was lower than in the secondary market.
It offered the debt paper for PHP35 billion and bids reached nearly three times at PHP92.254 billion.
The average rate of the T-bond stood at 6.258 percent, which was higher than the 5.913 percent it fetched previously.
In a statement, the BTr said the average rate of the debt paper “is below the secondary market benchmark rates.”
Earlier, National Treasurer Rosalia de Leon traced the upticks in the government security rates to the anticipations and eventual hikes in the Bangko Sentral ng Pilipinas’ (BSP) key rates.
Last week, the central bank’s policy-making Monetary Board (MB) further increased the BSP’s key policy rates by 50 basis points after noting the higher-than-expected 8.7 percent domestic inflation rate last January. (PNA)
