Rates & Bonds

Local yields continue to drop as rate cut expectations drive demand.

Players are better sellers on long-dated securities and can reposition through auctions at better levels.

Market players stay opportunistic, as the curve steepens with short-term yields falling and long-term yields rising.

Market players focus on the front-end to belly of the curve while awaiting catalysts

Participants show better buying interest in medium-term bonds, while some took profit on long-dated bonds.

Players began picking tops ahead of potential BSP easing, some took profit before US NFP release

A drop in global yields and the USD/PHP exchange rate encouraged more buying activity in the local GS market.

A weakening peso and rising tensions in Russia-Ukraine led to participants becoming better sellers.

Players repositioned in 5- to 10-Year bonds at elevated levels on rising US Treasuries, inflation worries