The national government raised P25 billion from the full award of all seven-year Treasury bonds at auction. | RonWDomingoINQ /PDI
On the other hand, Tuesday’s result was higher than corresponding rates for deals done at the secondary market.
The offering was oversubscribed by more than twice, with lenders making available a total of P58.6 billion. Rates for government securities have been rising amid continued hawkish signals from the United States Federal Reserve, themselves bolstered by “sticky” inflation figures.
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