YIELDS on government securities
The rates at the short end of the curve went up, with the rates of the 91-, 182- and 364-day Treasury bills increasing by 8.98 bps, 21.96 bps, and 17.81 bps, respectively, to 1.9413%, 2.6167%, and 2.8709%.ve-, and seven-year Treasury bonds saw their yields climb by 11.31 bps , 1.26 bps , 0.48 bp , 7.01 bps , and 5.17 bps , respectively.
“Yields likewise rose from growing market views of at least a 75-bp rate hike from the US Federal Reserve from the latest release of strong labor and inThe central bank, in a surprise move on Thursday, announced an immediate massive 75-bp hike in benchmark rates to help fight surging inflation. It was the largest increase on record and was the BSP’s first off-cycle action since April 16, 2020.
“However, potentially downbeat US housing and manufacturing reports could exert some downward pressure on bond yields,” the trader said.