Tag Archives: S&P Philippines Bond Index
Asian Fixed Income: The Philippines After the Key Overnight Rate Cut
The Central Bank of the Philippines unexpectedly lowered the key overnight rate to 3% from 4% on June 3, 2016, as it shifted to an interest rate corridor system to “improve the transmission of monetary policy.”[1] Sovereign bonds have had a strong rally since then; the total return rose 10.82% YTD, while the yield-to-maturity tightened…
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