Partial award for 7-year bonds as rates spikeThe Bureau of the Treasury awarded only P15.578 billion of the P35-billion reissued seven-year T-bonds on board to spare the government additional costs in paying yields. MANILA, Philippines — The government yesterday held back on the issuance of Treasury bonds (T-bonds), as investors demanded rates beyond market expectation due to inflationary pressures. National Treasurer Rosalia de Leon said the Treasury decided to make a partial award due to the inflation print that still breached government target. “(We only made a) partial award as rates significantly moved following September inflation print of 4.8 percent,” De Leon said in a text message to reporters. For October, the Treasury looks to raise P200 billion from the sale of debt papers.

Source: Philippine Star October 05, 2021 15:56 UTC