(File photo)
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued seven-year Treasury bonds (T-bonds) during Tuesday's auction.
With a remaining term of six years and 10 months, the reissued bond fetched an average rate of 6.27 percent.
"The 7-year Treasury bond average auction yield at 6.27% is higher vs. the comparable 7-year PHP BVAL (Bloomberg Valuation Service) yield at 7.24% as of March 4, 2024, after the slight pickup in the headline inflation data," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.
Headline inflation went up to 3.4 percent in February from 2.8 percent in January.
Ricafort said the average auction yield was also higher than the 6.094 percent in the previous seven-year T-bond auction on Jan. 16, 2024.
The auction attracted PHP50.1 billion in total tenders, higher than the PHP30-billion offer.
With its decision, the BTr raised the full program of PHP30 billion, bringing the total outstanding volume for the series to PHP65 billion. (PNA)
