Business Technology, Finance Technology & Information Technology
In the face of robust demand, the 7-year T-bond rate is moving sideways.
For the seven-year Treasury bond, the sideways movement of government debt securities rates persisted on Tuesday (T-bond).
The debt paper’s average rate increased to 3.651 percent from 3.576 percent before.
The T-bond was presented by the Bureau of the Treasury (BTr) for PHP35 billion, and the auction committee awarded the whole amount.
BTr re-offered the document over the tap facility window for PHP10 billion after total bids almost increased to PHP69.758 billion.
The “strong volume” and “reasonable rates” at the auction were attributed to the debt paper being in the center of the curve, according to National Treasurer Rosalia de Leon.
In a Viber message to media, she said, “(It’s) on (the) sweet spot of the curve with (a) remaining life of six years and eight months.”
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