BTr partially awards re-issued Treasury bonds

By Anna Leah Gonzales

June 11, 2024, 7:04 pm

<p><em>(File photo)</em></p>

(File photo)

MANILA – The Bureau of the Treasury (BTr) partially awarded the re-issued 10-year Treasury bond at Tuesday's auction.

With a remaining term of nine years and seven months, the re-issued bond was awarded at an average rate of 6.754 percent.

"The latest 10-year Treasury bond average auction yield at 6.754% is higher than the comparable 10-year PHP BVAL (Bloomberg Valuation Service) yield at 6.71% as of June 10, 2024, after the U.S. dollar/peso exchange hovered among 19-month highs that could lead to higher importation costs and some uptick in the overall inflation," said Rizal Commercial Banking Corporation chief economist Michael Ricafort.

"However, it is interesting to note that the average 10-year Treasury bond average auction yield at 6.754% is lower by -0.0751 vs. the previous 10-year T-bond average auction yield of 6.825% on May 7, 2024 or a little over a month ago," he added.

The auction was 1.8 times oversubscribed with total tenders reaching PHP53.1 billion.

The BTr raised PHP26.2 billion out of the PHP30.0 billion offering, bringing the total outstanding volume for the series to PHP141.9 billion. (PNA)