THE national government borrowed P30 billion in the domestic market through the sale of reissued 10-year Treasury bonds as investors’ asking yields eased, lower than the benchmark secondary market’s rates.With a remaining life of nine years and eight months to maturity, the T-bonds’ average yield settled at 6.825 percent.
Tuesday’s auction was 2.4 times oversubscribed than the total offering of P30 billion, with total bids reaching P71.240 billion. Ricafort also noted the decline of the benchmark 10-year US Treasury yield at 4.74 percent and the easing of the US dollar and peso to new two-week lows at P57.20 levels.
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