The national government on Tuesday generated P35 billion after the Bureau of the Treasury (BTr) fully awarded reissued Treasury bonds (T-bonds) as investors’ asking yield eased to within benchmark market rates.
THE national government on Tuesday generated P35 billion after the Bureau of the Treasury fully awarded reissued Treasury bonds as investors’ asking yield eased to within benchmark market rates.
De Leon attributed the decline in interest rates to investors’ expectations that the country’s inflation has already “peaked” as well as on the Central Bank’s statement “on slowing pace of rate hikes.” The auction was oversubscribed as investors tendered a total amount of P79.44 billion, based on Treasury data. The T-bonds have a remaining life of 11 years and 11 months.
The secondary market benchmark rate for the debt paper was at 7.179 percent. Investors’ sought interest rates ranging from a low of 6.9 percent to high of 7.25 percent for the reissued T-bonds, based on BTr data.
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