Your Morning Fix

• The Philippines launched its international debt offer of the year, which includes 10-year dollar bonds that will be used for general budget financing as well as 25-year dollar bonds and 7-year euro sustainability bonds that will both be used to refinance assets in the country’s Sustainable Finance Framework.
• Board of Investments (BOI) Managing Head and Trade Undersecretary Ceferino S. Rodolfo said the Philippines will be intensifying efforts to secure a bilateral free trade agreement, citing a possible net-positive impact on Philippines-US relations.
• US weekly jobless claims increased only slightly to 223,000 from last week. This implies a solid US labor market that continues to calm expectations for another rate cut from the Federal Reserve.
• Japan’s key inflation gauge accelerated to 3% in December from 2.7% in the previous month largely due to higher energy costs. The print marks the first time in over a year that inflation in Japan hit 3%, and further supports the case for rate hikes from the Bank of Japan.
• The Bangko Sentral ng Pilipinas (BSP) saw its net income surge more than fivefold to PHP 113.1 billion in the first 10 months of 2024, driven by decreased expenditure and a 49.5% increase in revenues at PHP 264.1 billion, primarily from higher interest earnings.