BTr may tweak volume of one-year T-bills amid lukewarm demand

The Bureau of the Treasury (BTr) said it will “revisit” the volume of the Treasury bill’s one-year tenor amid lukewarm demand for the said security.
Deputy Treasurer Erwin D. Sta. Ana said the BTr might tweak the volume of one-year paper following two successive rejections from the said tenor.
“For this quarter, we don’t have plans of changing it, but for the third quarter, we will revisit it,” Mr. Sta. Ana told reporters following the Treasury bond auction Tuesday.
Earlier this week, the Treasury rejected all bids for the 364-day security during the Treasury bill auction as offers only reached P4.58, below the P6 billion planned borrowing.
The government also rejected all bids for the tenor during the April 30 auction. The tenor received tepid demand from investors amounting P2.98 billion, also undersubscribed from the intended borrowing. — Karl Angelo N. Vidal