Gov't fully awards T-bonds despite rate uptick

THE BUREAU of the Treasury (BTr) fully awarded P30 billion in reissued 10-year Treasury bonds (T-bonds) on Tuesday, despite slightly higher yields, as inflation in June remained below target.

- By Aaron Michael C. Sy

Total bids reached P64.04 billion, more than double the amount on offer, bringing the total outstanding volume for the bond series to P455.6 billion, the BTr said in a statement.

The bonds, which have a remaining life of seven years and two months, were awarded at an average of 6.128%, with accepted yields ranging from 6.1% to 6.135%.

The average rate rose by 0.2 basis point (bp) from the auction on June 10, though still 62.4 bps below the 6.75% coupon when it was first issued.