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Peso GS Weekly: Bonds hold ground amid global crosswinds
With global volatility rising, local government bonds remain anchored by stable fundamentals.
By Metrobank Local Currency Trading Department and Janssen Roman
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What happened last week
At the start of last week, trading opened quietly, as investors stayed cautious ahead of key global data releases. Early selling pressure emerged following a spike in US Treasury yields, driven by geopolitical headlines and fresh sanctions on Russian oil producers. Benchmark Peso Government Securities (GS) yields edged higher by 1–2 basis points (bps), with 10-73 trading actively around 5.900%. Retail flows were concentrated in short-dated T-bills, while offshore accounts showed selective selling interest.