FULLY AWARDED. The Bureau of the Treasury fully awards the seven-year reissued Treasury bonds on Wednesday (Nov. 29, 2023). The reissued bond fetched an average rate of 6.099 percent, with Total tenders amounting to PHP60.3 billion. (PNA file photo)
MANILA – The Bureau of the Treasury (BTr) on Wednesday fully awarded the reissued seven-year Treasury bonds (T-bonds).
With a remaining term of five years and 10 months, the reissued bond fetched an average rate of 6.099 percent – lower than when it was last reissued in August as well as the prevailing secondary market rate.
The comparable PHP (Bloomberg Valuation Service) yield was at 6.22 percent as of November 28.
Total tenders amounted to PHP60.3 billion.
The BTr raised the full program of PHP20.0 billion, bringing the total outstanding volume for the series to PHP165.4 billion.
In a comment, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the auction yield eased amid lower comparable U.S. Treasury yields.
"[The] lower auction yields recently [was] due to stronger peso exchange rate among the strongest in nearly three months versus the U.S. dollar, global crude oil prices still lingering among four-month lows, both of which would help further ease inflationary pressures and support pause in local policy rates," he said. (PNA)
