(File photo)
MANILA – The Bureau of the Treasury (BTr) on Tuesday partially awarded the re-issued 20-year Treasury bonds (T-bonds).
With a remaining term of seven years and two months, the re-issued T-bonds were awarded at an average rate of 7.058 percent.
"The 7-year Treasury bond average auction yield stood at 7.058%, higher vs. the comparable 7-year PHP BVAL (Bloomberg Valuation Service) yield at 6.94% as of April 29, 2024, which is the highest in more than 17 months or since November 2022 as US Treasury yields mostly posted among 5.5-month highs recently," Rizal Commercial Banking Corporation chief economist Michael Ricafort said.
The seven-year T-bond average auction yield was also higher than the 6.299 percent in the previous seven-year T-bond auction on April 2, 2024.
The auction was 1.2 times oversubscribed with total tenders reaching PHP36.8 billion.
The BTr raised PHP27.5 billion out of the PHP30 billion offering, bringing the total outstanding volume for the series to PHP283.3 billion. (PNA)
