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Lock in higher yields with the new 10-year treasury bond
A new opportunity to secure long-term income has opened up on February 18.
By Metrobank Local Currency Trading Department and Dana Louise Geronimo
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(Editor’s Note: This article has been updated on February 18, 2026, to reflect the results of the bond offering.)
If you want to get more from your bond portfolio when rate cuts come, you need to learn how you can lock in yields at the right time.
Such an opportunity is just right around the corner.
The government is looking to borrow between PHP 150 billion to PHP 200 billion through a new 10‑year bond, called FXTN 10‑74, issued on February 18. Following the auction, the final annual interest rate (coupon) has been set at 5.925%—slightly stronger than the earlier indicative range of 5.975% to 6.075%.
This came alongside robust demand, with total tenders reaching PHP 328.467 billion against PHP 107.072 billion accepted, resulting in a strong bid‑to‑cover ratio of ~3.07×.
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