The Bureau of the Treasury (BTr) awarded in full the P30 billion worth of three-year bonds at the auction Tuesday.
The bond, originally issued in January, attracted P62.43 billion in total bids.
Average rate on the bond auction Tuesday stood at 6.007 percent. The original coupon rate was 6.00 percent.
The BTr has allowed yields on treasury bills and bonds to gradually climb as it raises more funds to support the government’s P5.768 trillion spending program for 2024.
Domestic interest rates has risen sharply since the central bank aggressively tightened monetary policy in early 2022 to moderate a sharp rise in inflation. The central bank’s overnight rates now stand at 6.5 percent from a low 2.0 percent in early 2022.
