Dollar-Peso Exchange Rate

USD/PHP closed another 9.5 centavos higher today at Php50.800, as the greenback pared its recent
losses against major currencies. USD was bolstered overnight over news that the impending tax cuts
would boost company profits, prompting US equities to rise as well. USD/PHP gapped up to Php50.730
at the open and buying interest seen the past few days was prevalent once again. There was heavy
buying momentum from the get go and the local pair reached an intraday high of Php50.840, breaking
through the technical resistance of Php50.810. Profit taking occurred near the session close, causing
USD/PHP prices to trade off the highs to eventually close at Php50.800.

Local Government Securities Market

Still riding on BSP Gov. Espenilla's comments hinting at a possible rate hike in the next Monetary Board meeting, yields rose by another 2 - 3 basis points. To add to this, 10-year US Treasuries inched back up close to the 2.60% levels again ff. release of data revealing reduced China and Japan holdings of US government debt.
The 5-year benchmark bond, RTB 5-11, initially traded as much as 5 basis points higher from yesterday's close but players with excess liquidity likely took this as a buying opportunity and tempered the sell-off a bit.  At close, the bond still saw its yield up 2.5 bps along with others across the curve. Total volume of deals was around Php 11 Bn.
Yields may see upward bias again due to BSP rate hike concerns but support may come from the market's excess liquidity.


 

PESO YIELD CURVE (based on best bids)

 

 

 

 

 

 

 

 

 

Dollar-Peso Exchange Rate
18 Jan 2018 16:00

USD/PHP closed another 9.5 centavos higher today at Php50.800, as the greenback pared its recent
losses against major currencies. USD was bolstered overnight over news that the impending tax cuts
would  [ ... ]

Local Government Securities Market
18 Jan 2018 16:00

Still riding on BSP Gov. Espenilla's comments hinting at a possible rate hike in the next Monetary Board meeting, yields rose by another 2 - 3 basis points. To add to this, 10-year US Treasuries inche [ ... ]

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