Buyers scramble to get 20-year treasury bonds, first under Aquino govít
MANILA, Philippines -- The yield on the 20-year Treasury bonds dropped 20.8 basis points to 8.521 percent on Tuesday as buyers scrambled to lock in their free funds to long-term debt papers.
"The auctionsí results show investor confidence in the new [Aquino] administration and good economic fundamentals. June inflation was 3.9 percent, which is on the lower end of the government's 3.8 percent to 4.7 percent," National Treasurer Roberto B. Tan.
Tuesday's auction for P8.5 billion worth of 20-year T-bonds marks the first issuance of government debt papers under the new administration.
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