Manila: The Bureau of the Treasury (BTr) fully awarded on Tuesday the reissued seven-year Treasury bond (T-bond). With a remaining term of six years and three months, the reissued T-bond fetched an average yield of 5.986 percent, lower than the 6.143 percent when it was last reissued on March 11, 2025.

According to Philippines News Agency, Rizal Commercial Banking Corporation chief economist Michael Ricafort said the T-bond's average auction yield eased after the latest inflation fell to 1.8 percent in March, increasing further the odds of a Bangko Sentral ng Pilipinas (BSP) rate cut. "The 7-year T-bond auction yield also eased after the recent decline in the comparable 7-year U.S. Treasury yield also to among 3.5-month lows or since December 18, 2024, now at 3.98 percent," Ricafort said.

The auction was 1.8 times oversubscribed with total tenders reaching PHP53.4 billion. With its decision, the Auction Committee raised the full program of PHP30 billion, bringing the total outstanding volume for the series to PHP413.3 billion.