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In the Anderson lattice model for a mixed-valent system, the $d-f$ hybridization can possess a $p$-wave symmetry. The strongly-correlated insulating phase in the mean-field approximation is shown to be a $p$-wave Bose condensate of excitons with a spontaneous lattice deformation. We study the equilibrium and linear response properties across the insulator-metal transition. Our theory supports the empirical correlation between the lattice deformation and the magnetic susceptibility and predictsdoi:10.1103/physrevlett.79.2097 fatcat:k4bohy2b7jd3dhxeb575ivb7pa