Weekly Fixed Income Summary : February 12 – 16, 2018

Weekly Fixed Income Summary and Outlook
First Metro Weekly Fixed Income Summary and Outlook – February 12 – 16, 2018 Outlook. Interest rate pressures rising but the reserve requirement is acting like a sort of damper. Banks have not actually hiked their mortgage rate, although auto rates have inched up a bit. The Bureau of Treasury has been doing partial awards, also to temper the rate... Read More

Weekly Fixed Income Summary : February 05 – 09, 2018

Weekly Fixed Income Summary and Outlook
First Metro Weekly Fixed Income Summary and Outlook – February 05 – 09, 2018 Outlook. Bond yields to remain elevated. The short-end rose, reflected in higher T-bill rates in the latest auction. Government had to reject to temper it. T-bill auction results: Average bid rates were 2.670%, 2.854%, and 3.04%, respectively, all higher than the previous auction’s average rates. Bid-to-cover... Read More

Weekly Fixed Income Summary : Jan. 29 – Feb. 02, 2018

Weekly Fixed Income Summary and Outlook
First Metro Weekly Fixed Income Summary and Outlook – January 29 – February 02, 2018 Outlook. There’s continuing upward pressure on local bond yields this week due to higher-than-expected inflation of 4.0% in January, a big surprise given consensus expectation of 3.3% and the BSP likely doing a preemptive rate hike come Thursday. The sell-off in equities may not necessarily... Read More

Weekly Fixed Income Summary : January 22-26, 2018

Weekly Fixed Income Summary and Outlook
First Metro Weekly Fixed Income Summary and Outlook – January 22 – 26, 2018 Outlook. Local bond yields rising. This due to higher US Treasuries touching a two year high of 2.72%. Locally, the short-end (T-bills) moved up. See below. The five year retraced 4.75% from a low of 4.6%. The rates will remain elevated. Given this view, government did... Read More

Weekly Fixed Income Summary : January 15-19, 2018

Weekly Fixed Income Summary and Outlook
First Metro Weekly Fixed Income Summary and Outlook – January 15 – 19, 2018 Outlook. Local bond yields will be rangebound this week. The Philippines’ 4Q17 GDP numbers came in at 6.6%, a tad lower than the 6.7% median expectation but still one of the fastest in the region.This brought 2017’s average growth to 6.7%, the third fastest growing pace... Read More