THE GOVERNMENT fully awarded the reissued 25-year Treasury bonds (T-bonds) it auctioned off on Tuesday amid strong investor demand, which drove the series’ average rate down.
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The average rate was also lower than the 7.2956% quoted for the same bond series at the secondary market but 6.28 bps higher than the 7.1192% yield seen for the 10-year tenor at the secondary market prior to the auction, based on PHP Bloomberg Valuation Service Reference Rates data provided by the BTr.
“With its decision, the committee was able to raise the full program of P35 billion, bringing the total outstanding volume for the series to P123.4 billion,” it added.ering amid “pent-up demand… given last month’s supply shortage and that investors are willing to buy bonds as long as [the yield] is above 7%.”
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