Government fully awards five-year Treasury bonds worth P15 billion

THE GOVERNMENT fully awarded P15 billion worth of five-year re-issued Treasury bonds (T-bonds) on Tuesday, Aug. 14.
The yields climbed to 5.902%, from 5.592% in the previous auction.
Prior to the awarding, rates in the secondary market stood at 5.9755%.
National Treasurer Rosalia V. De Leon said that the bids priced in the rate hikes from the central bank since May.
Ms. De Leon also noted that the Bureau of the Treasury has already secured necessary approvals for the planned Marawi bonds worth about P50-60 billion, but the timing has yet to be determined. — Elijah Joseph C. Tubayan