Peso GS Weekly: Cautious players hunt for bargains, profits
With the US presidential elections concluded, profit-takers may see opportunities to sell now at lower yields

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WHAT HAPPENED LAST WEEK
The local government securities (GS) market saw a weak risk sentiment for the better part of last week as elevated global yields, rising USD/PHP exchange rate, and the result of the US presidential elections kept players wary.
On the local front, October inflation clocked in at 2.3%, faster than September’s 1.9%. Meanwhile, third quarter gross domestic product (GDP) growth was 5.2% versus 5.7 estimate in a Bloomberg survey. Both were shrugged off by market players.
Mid-week, headlines about the result of the US presidential election and the sell-off in global yields led to a de-risking in the local GS market. Short- to medium-tenor yields rose by as much as 5 to 12 basis points (bps), but were easily met by bargain hunters.
Toward the end of the week, the slight ral
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