Yields on government debt decline on dovish Fed, BSP - BusinessWorld Online

YIELDS on government securities declined last week as the market expects smaller rate increases from the US Federal Reserve and the Bangko Sentral ng Pilipinas.

At the belly of the curve, rates of the two-, three-, four-, five-, and seven-year Treasury bonds decreased by 20.82 bps , 20.78 bps , 22.43 bps , 25.83 bps , and 30.6 bps , respectively. A bond trader attributed the downward movement of GS rates last week to investors’ preference for higher-yielding longer tenors amid expectations of slower tightening by the Fed and the BSP.

On Wednesday, Philadelphia Federal Reserve President Patrick Harker signaled a less hawkish stance, Reuters reported.

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BSP raises interest cap on credit card transactions to 3% per monthMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has raised the interest cap on credit card transactions to 3 percent a month or 36 percent a year. BSP Governor Felipe Medalla said Banks not making enough money? Usury. Greed. 36% per yr, too much! BSP Governor working for the banks. Congres should look into this. BangkoSentral senatePH congressPHnews Huh? Antaas naman eh pambili ng gatas, diapers atska gamot pinagamit ng mga customers namin yan. Wala po bang ibang solusyon BangkoSentral ?
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