Business Technology, Finance Technology & Information Technology
20-year T-bond fully awarded by BTr
Despite the rate increase brought on by considerable demand, the Bureau of the Treasury (BTr) fully awarded the 20-year Treasury bond (T-bond) on Tuesday.
It set the price of the debt paper at PHP 25 billion, and bids came in at PHP 34.412 billion.
The T-bond’s average rate increased from 6.525 percent to 6.631 percent.
Government securities yield increases can be attributed to expectations of further increases in central bank rates.
For starters, given forecasts that inflation would probably continue above the government’s goal range of 2 to 4 percent for the majority of the year, the Bangko Sentral ng Pilipinas (BSP) is anticipated to raise its benchmark rates by 25 basis points this week.
Investors, according to National Treasurer Rosalia de Leon, are also anticipating the Federal Reserve’s rate decision following the Federal Open Market Committee’s (FOMC) two-day meeting, which will end on March 22.
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