MANILA – The sideways movement of government debt securities rates continued on Tuesday for the seven-year Treasury bond (T-bond).
The average rate of the debt paper moved to 3.651 percent from 3.576 percent previously.
The Bureau of the Treasury (BTr) offered the T-bond for PHP35 billion and the auction committee made a full award.
Total tenders nearly doubled at PHP69.758 billion thus, BTr re-offered the paper over the tap facility window for PHP10 billion.
National Treasurer Rosalia de Leon traced the “strong volume” and “reasonable rates” during the auction to the debt paper being in the middle of the curve.
“(It’s) on (the) sweet spot of the curve with (a) remaining life of six years and eight months,” she told journalists in a Viber message. (PNA)
Source: Philippines News Agency
