T BOND RATE RISES
The average rate of the 10-year Treasury bond (T-bond) with a remaining life of 4.9 years went up by 2.782 percent due to a benign inflation outlook.
The rate of the same tenor during an auction last July was 2.759 percent.
The Bureau of the Treasury (BTr) offered the debt paper for PHP30 billion, and bids were more than twice at PHP68.664 billion.
The auction committee made a full award.
National Treasurer Rosalia de Leon said strong liquidity continues to drive the huge demand for government-issued securities.
Debt securities with tenors like 10 years are considered as those belonging to the belly of the curve since the shortest paper has one-year maturity while the longest is at around 30 years.