Manila: The Bureau of the Treasury (BTr) fully awarded the reissued Treasury bond during Tuesday's auction. With a remaining term of five years and one month, the reissued T-bond fetched an average yield of 5.887 percent, which is lower than the prevailing five-year benchmark and the average rate when it was last reissued in April.

According to Philippines News Agency, Rizal Commercial Banking Corporation chief economist Michael Ricafort noted that the T-bond's yield eased ahead of the release of the May 2025 inflation data on June 5, which is anticipated to show a benign trend. "The 5-year T-bond auction yield also slightly lower on relatively higher total bids compared to previous Treasury bond offerings in recent weeks, at PHP59.869 billion," Ricafort stated.

The auction was 2.0 times oversubscribed with total tenders reaching PHP59.9 billion, prompting the Committee to open the tap facility. With its decision, the Committee raised the full program of PHP30 billion with an additional PHP5 billion through the tap facility, bringing the total outstanding volume for the series to PHP326.7 billion.