Yields on gov’t debt slip on Fed, BSP - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 68%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

YIELDS on government securities (GS) slipped last week after both the US Federal Reserve and the Bangko Sentral ng Pilipinas raised benchmark interest rates by 50 basis points (bps).

GS yield in the secondary market went down by an average of 1.85 bps week on week, according to the PHP Bloomberg Valuation Service Reference Rates as of Dec. 16 published on the Philippine Dealing System’s website.

“The main focus [last] week was on the projected 50-bp hikes of the US Fed as well as the BSP and the corresponding statements that accompanied both meetings,” a bond trader said in a text message. “Yields initially rallied to start the week on client demand and with the canceled bills and bond auctions, but the statements of both central banks that tightening will likely continue grounded expectations somewhat and yields closed lower but off the lows.

“PHP BVAL yields eased further week on week, though slightly, after the lower-/better-than-expected US inflation at 7.1%, new 11-month lows or since November 2021 and further down from the new 40-year high of 9.1% in June 2022,” Mr. Ricafort said in a Viber message.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bargain hunting seen amid Fed, BSP rate bets - BusinessWorld OnlineTHE MARKET may see bargain hunting this week due to dampened investor sentiment and expectations of further interest rate hikes. On Friday, the benchmark Philippine Stock Exchange index (PSEi) fell by 70.30 points or 1.07% to end at 6,496.50 points, while the broader all shares index went down 30.76 points or 0.89% to close at […]
Source: bworldph - 🏆 9. / 68 Read more »