Local Government Securities Market

Yields are up slightly after the release of hawkish FOMC statement and the filing of the Senate Ways and Means Committee’s version of the tax reform bill. The market was initially defensive with bid-offer levels at around 3 - 5 bps higher from the previous day as the Fed signaled a generally positive economic outlook despite mixed data, soft inflation, and possibly more distorted data in the coming months due to the damage of the hurricanes. Odds of a rate hike this December went up to around 60%, from 53% pre-FOMC statement. The two medium-term bonds FXTN 10-60 and FXTN 10-61 were again the bonds of choice for trading with both initially traded higher by 4 – 5 bps likely on a knee-jerk reaction. As the day progressed, however, buying interest was eventually seen with tax reform developments likely also providing a bit of a push. Closing levels for above-mentioned bonds are at 4.415% and 4.645%, respectively, up by only 1 – 2 bps. Total volume of deals reached Php 11.4 Bn.

With the two policy meetings now out of the way, players will likely now look for the next set of market-movers. Additional hints on the likelihood of a Fed rate hike this December would be monitored.

 

 

 

 

 

 

 

 

 

Local Government Securities Market
21 Sep 2017 16:00

Yields are up slightly after the release of hawkish FOMC statement and the filing of the Senate Ways and Means Committee’s version of the tax reform bill. The market was initially defensive with bid [ ... ]

Dollar-Peso Exchange Rate
19 Sep 2017 16:00

USD/PHP prices broke down today, closing 18.5 centavos lower to Php50.195, US equity markets actually continued its strong performance overnight causing the greenback to trade higher. As a result, USD [ ... ]

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1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

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1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 You can only type in your password or PIN using the virtual keyboard.

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1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keep your device virus-free. Make sure you have an updated anti-virus software.

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1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

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For more information, please visit the Safe Surfing Guidelines page or call our 24-hour Customer Support at (02) 8418600.
1 Make sure that the website address appearing on your browser starts with https://ebanking.unionbankph.com and a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keep your device virus-free. Make sure you have an updated anti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit the Safe Surfing Guidelines page or call our 24-hour Customer Support at (02) 8418600.
1 Make sure that the website address appearing on your browser is Union Bank of the Philippines and has a padlock symbol (🔒) beside it. If you see something different or there is no address appearing, please do not proceed and report to us immediately.

2 Keep your device virus-free. Make sure you have an updated anti-virus software.

3 To secure your account, we strongly advise you to avoid downloading your banking documents using a public computer




For more information, please visit the Safe Surfing Guidelines page or call our 24-hour Customer Support at (02) 8418600.