The 14-day BoBC yield dropped to 0.86 from 0.89 percent for a paper maturing on May 18, 2016 while that for a 91-day paper maturing on August 3, 2016 the yield dropped to 1.14 from 1.25 percent. The results of the auction held on May 3, are summarised below.
DATE: May 3, 2016
| Issue | BoBC180516 | BoBC030816 |
| Total Subscribed (P million) | 2 496.000 | 3 134.000 |
| Total Allotment (P million) | 2 496.000 | 1 499.990 |
| Stop-Out Price (P) | 99.955 | 99.702 |
| Stop-Out Yield (percent) | 1.18 | 1.20 |
| Simple Rate (percent) | 1.17 | 1.20 |
| Weighted average yield of winning bids (percent) | 0.86 | 1.14 |
| Simple rate for weighted average winning bids (percent) | 0.86 | 1.13 |
| Weighted average price of winning bids (P) | 99.967 | 99.719 |
| Minimum winning bid yield (percent) | 0.81 | 1.05 |
| Maximum bid yield (percent) | 1.18 | 1.28 |
| Days to Maturity | 14 | 91 |
Note:
BoBC 180516 - Bids at and above P99.955 received full allotment.
BoBC 030816 - Bids above P99.702 received full allotment while bids at P99.702 received around 43.93 percent of the amount applied for.