Gov’t fully awards P35B in 10-year T-bonds
The government fully awarded P35 billion in 10-year Treasury bonds on Wednesday, with an additional P5 billion borrowed through its tap facility.
Total tenders reached P72.956 billion, two times oversubscribed, with the coupon rate at 4%, slightly higher than the secondary market level of 3.927%.
Bond traders expect rates to inch up further this week due to Fitch Ratings' revised outlook for the Philippines and concerns over the Delta variant of COVID-19.
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