Treasury resets bond auction to Wednesday
The nationwide transport strike has had some spillover effects to the financial sector.
The Bureau of the Treasury has moved the scheduled auction for seven-year bonds to Wednesday, Oct 18 following the suspension of work in government offices on Tuesday.
The Treasury made the announcement on Tuesday morning in an advisory on its website, which was addressed to banks and other eligible securities dealers who participate in the weekly offerings of debt papers.
The government is planning to raise P15 billion in seven-year bonds, which must be settled by the bidders on Oct. 19.