(File photo)
MANILA – The Bureau of the Treasury (BTr) fully awarded the reissued 20-year Treasury bonds (T-bonds) during Tuesday's auction.
With a remaining term of three years and one day, the reissued T-bonds fetched an average rate of 6.025 percent.
The comparable three-year PHP Bloomberg Valuation yield was almost the same at 6.02 percent as of Sept. 3.
“(This is) ahead of the latest headline inflation data on Sept. 5, 2024 that is expected to revert back to within the BSP’s inflation target of 2 percent to 4 percent range from the nine-month highs of 4.4 percent in July 2024 amid lower tariff rate on imported rice," said Rizal Commercial Banking Corp. chief economist Michael Ricafort.
Ricafort, however, said the three-year T-bond average auction yield went up slightly month on month from the 6.009 percent in the previous three-year T-bond auction on July 30.
The auction was 1.6 times oversubscribed with total tenders reaching PHP49.4 billion.
With its decision, the BTr raised the full program of PHP30 billion, bringing the total outstanding volume for the series to PHP121.1 billion. (PNA)
