Rates & 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

With the US presidential elections concluded, profit-takers may see opportunities to sell now at lower yields

The US presidential election continues to stir market volatility.

While the rise in global yields and the USD/PHP exchange rate kept risk sentiment weak, some players see opportunity to load up on government securities at current levels.

Offshore players began to unload at the belly and back-end of the curve as the dollar remains resilient. Meanwhile, others load up on short-term securities due to scarce supply.

Upward momentum on global yields and the dollar-peso exchange rate has kept risk-taking at bay.