Manila: The Bureau of the Treasury (BTr) fully awarded bids for the re-issued Treasury bond (T-bond) on Tuesday. This re-issued T-bond, with a remaining term of five years and four months, achieved an average yield of 6.019 percent, slightly surpassing the comparable five-year T-bond yield of 5.93 percent as of March 3, 2025.

According to Philippines News Agency, the auction witnessed a near two-fold oversubscription, with total tenders reaching PHP56.8 billion. Rizal Commercial Banking Corporation chief economist Michael Ricafort noted the total demand during Tuesday's auction was lower than the PHP98.633 billion recorded in the previous five-year T-bond auction held a month ago.

Ricafort further highlighted that the demand was relatively lower compared to other T-bonds with similar tenors observed in previous weeks. This trend could indicate a decrease in market interest amid concerns over Trump tariffs. Despite these factors, the Auction Committee successfully raised the full program amount of PHP30 billion, increasing the total outstanding volume for the series to PHP224.7 billion.