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Treasury fully awards reissued bonds after BSP rate reduction
The Bureau of the Treasury (BTr) successfully awarded its reissued seven-year Treasury bond with an average yield of 5.939 percent.
This average rate for the reissued bond was lower compared to the 6.128 percent recorded during its previous issuance in July, attributed to the Bangko Sentral ng Pilipinas' (BSP) recent policy rate cut.
The auction saw strong investor interest, with tenders reaching PHP66.7 billion, which is 2.2 times the offered amount.
The BTr fully awarded PHP30 billion of the reissued bonds.
The decrease in yield is also influenced by anticipation of potential inclusion in the JPMorgan Global Emerging Market Bond Index.
The outstanding volume for this series now stands at approximately PHP485.6 billion.
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