Manila: The Bureau of the Treasury (BTr) partially awarded the reissued Treasury bond (T-bond) during Tuesday's auction. This decision comes as the security, which has a remaining term of nine years and ten months, saw its average yield capped at 6.428 percent.

According to Philippines News Agency, the partial award was influenced by muted market demand and higher submitted bid rates. The auction was 1.8 times oversubscribed, with total tenders reaching PHP55.4 billion. Despite the oversubscription, the Committee opted to raise PHP27.6 billion out of the PHP30-billion offering, bringing the total outstanding volume for the series to PHP367.6 billion.