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September 3, 2010
August CPI y/y reading most likely will fall between 3.8%-4.0%
USD/PHP took a ride southbound the whole day with the PSEi extending gains by +68.16 points. Risk on mood ahead the payrolls data was evident among regional peers particularly the KRW. The bearish streak was also supported by the buoyant EUR hovering above the 1.2810 levels. We gradually reached the bottom (PHP44.690) with pit stops at PHP44.800 and PHP44.750.
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September 3, 2010
4 to 7-year liquid issues continued to comprise bulk of the market's activity and volume, with yields still on the way down despite no news or data released today. Yields on done trades dropped by as much as 8 basis points in these tenors, while offer 5 to 11.5 basis points lower in 10-year securities were lifted. Volume of trades still reached a good Php 21.77bn in the last morning session this week.
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