THE national government was unable to fully borrow P30 billion from the domestic market as investors demanded higher yield for the latest Treasury bonds auctioned by the Bureau of the Treasury .
The average yield for the government securities settled at 6.337 percent, above the 6.287 percent secondary market benchmark yield for the debt paper.This marks the second consecutive week that the Treasury was unable to make a full award of T-bonds due to elevated yield. “With its decision, the Committee raised P26.6 billion out of the P30.0 billion offering, bringing the total outstanding volume for the series to P126.8 billion,” the Treasury said in a statement after the auction.
Tuesday’s auction was the second auction held by the Treasury this month, following a full award of P15 billion in T-bills tender last Monday.
Source: News Formal (newsformal.com)
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