Strong demand for treasury bills at the auction Monday allowed the Bureau of the Treasury to raise the offer size for three- and six-month debt, borrowing a total P19 billion for budgetary support.
Total tenders reached P46.88 billion versus the original offer of only P15 billion.
Yield on the 91-day paper eased to 5.102 percent from last week’s 5.140 percent. Tenders reached P18.36 billion, allowing the BTr to increase the offer size by 40 percent to P7 billion from P5 billion.
Total tenders for the 182-day bills was also P16.91 billion, three times the original offer size of P5 billion, keeping yield only slightly higher at 5.582 percent from 5.578 percent. The issue size was raised to P7 billion.
Yield on the 364-day paper rose to 5.973 percent to 5.829 percent. The offer size was kept at P5 billion and was awarded in full as total bids reached P11.61 billion.
