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Byline: Ann Rozainne R. Gregorio
THE RATE of fresh 10-year Treasury bonds plunged by more than half a percentage point to a record low at the auction yesterday amid high demand from investors.
The 10-year debt papers fetched a 4.875% coupon rate, 54.5 basis points lower than the 5.42% they got at the May 8 auction.
Bureau of the Treasury data showed it was the lowest rate on record for the 10-year papers since the government started to issue the securities in 1996.
At the secondary market yesterday, the 10-year bonds were quoted at 4.91%.
Tenders for the 10-year papers totaled P31.414 billion, more than three times the government's …