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Treasury gives partial award of 10-year bond.
Byline: Louella D. Desiderio
The government yesterday made a partial award of 10-year Treasury bonds after investors asked for high yields amid competing issues in the market.
It sold only P3.362 billion of the planned P8.5 billion worth of re- issued 10-year bonds with remaining life of nine years and 10 months.
The paper got an average rate of 7.831%, up by just 0.1 basis point (bps) from the 7.830% given at the Feb.16 auction.
The rate would have risen by 10.2 bps to 7.932% had the Bureau of the Treasury decided to make a full award.
"There were competing issues in the market so they …
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