BTr fully grants 7-year reissued treasury bonds

The Treasury Bureau (BTr) announced on Tuesday that it has fully granted the 7-year reissued Treasuries (Treasury Notes).

Data showed that BTr raised 35 billion pesos from its sale of 7-year reissued Treasuries at auction today.

Treasuries had an average rate of 6.588 percent, a rise of 6.75 percent and a low of 6.375 percent.

The amount offered during the day amounted to 54.844 billion pounds, exceeding the amount offered
during the auction.

National Treasury Secretary Rosalia F. De Leon told reporters that the full prize for today’s auction was at the expense of rates in line with the sub-levels.

Last week, BTr also awarded a full 10-year Treasury note on the back of continued strong investor demand.

The 10-year Treasury yielded an average rate of 6.703 percent, with gains of 6.8 percent and 6.5 percent.

“Strong demand kept rates within a minor level even with hawkish statements from the Fed and a commitment to raise inflation to the 2 percent target,” De Leon told reporters earlier.

For this month, the Treasury is scheduled to borrow from the domestic debt market about 200 billion pesos, of which 140 billion pesos will be through Treasuries and another 60 billion pounds from Treasuries.

This year, the government is set to borrow a total of 2.21 trillion pesos, of which 75 percent will be provided domestically while the remaining 25 percent will come from foreign sources.

As of the end of July this year, debt owed to the national government rose to a new record high of 12.89 trillion pesos, an increase of 96.09 billion pesos, or 0.8 percent, during the first month of Marcos’ administration from 12.79 trillion pesos. As of the end of June.

The debt-to-GDP ratio declined slightly to 62.1% in the second quarter of the year from 63.5% in the first quarter. However, this remained well above the internationally recommended 60 percent threshold for a healthy economy.

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