The rate of the Philippines 10-year Treasury bond (T-bond) declined Tuesday due to strong demand for government securities.
The average yield of the T-bond, which has a remaining term of six years and three months, slipped to 2.719 percent from 2.791 percent during the auction for the same tenor on Dec. 15, 2020.
The Bureau of the Treasury (BTr) offered the debt instrument for PHP30 billion and bids reached PHP82.5 billion. The auction committee made a full award.
National Treasurer Rosalia de Leon said demand for government securities remains.
“Auction saw interest on (the) intermediate part of (the) curve driven by search for yields,” she told journalists in a Viber message.
The BTr again offered the same tenor over the tap facility window during the day for PHP10 billion and it was fully awarded. Tenders reached PHP18.665 billion.
Source: Philippines News agency