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Philippine's FinSec Open To Rate Cuts, Front-End Yields Lower

ASIA RATES
DataEM BulletHomepagemarkets-real-timeBulletEmerging Market News

Asia sov see better buying through the front-end. The Philippines FinSec was speaking earlier where he mentioned the country is on track for monetary easing. Locally there is little data on the calendar this week with focus turning to key US inflation data due out later this week.

  • The INDON curve has bull-steepened today with front-end yields 1-3bps lower, while the PHILIP curve twist steepens, with front-end yields 1-2bps lower.
  • The Philippine's President Marco delivered his third state of the nation Address to congress on Monday where he pledged measures to support the farm sector and curb inflation, particularly rice prices, which have significantly impacted Filipinos despite overall economic growth. His plans include infrastructure improvements, stricter anti-smuggling rules, and a review of power sector laws to reduce energy costs, aiming to maintain economic momentum and achieve 6-7% growth this year.
  • Philippine's Finance Secretary spoke earlier where he mentioned the country was on track for monetary easing and that he is open to a policy rate cut next month. He expects 6% GDP growth in Q2.
  • Cross-asset: Asian currencies are higher verses the USD today, with the IDR up 0.14%, while the PHP is 0.11% higher, equity markets are little changed.
  • Regionally there is little on the calendars this week.
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Asia sov see better buying through the front-end. The Philippines FinSec was speaking earlier where he mentioned the country is on track for monetary easing. Locally there is little data on the calendar this week with focus turning to key US inflation data due out later this week.

  • The INDON curve has bull-steepened today with front-end yields 1-3bps lower, while the PHILIP curve twist steepens, with front-end yields 1-2bps lower.
  • The Philippine's President Marco delivered his third state of the nation Address to congress on Monday where he pledged measures to support the farm sector and curb inflation, particularly rice prices, which have significantly impacted Filipinos despite overall economic growth. His plans include infrastructure improvements, stricter anti-smuggling rules, and a review of power sector laws to reduce energy costs, aiming to maintain economic momentum and achieve 6-7% growth this year.
  • Philippine's Finance Secretary spoke earlier where he mentioned the country was on track for monetary easing and that he is open to a policy rate cut next month. He expects 6% GDP growth in Q2.
  • Cross-asset: Asian currencies are higher verses the USD today, with the IDR up 0.14%, while the PHP is 0.11% higher, equity markets are little changed.
  • Regionally there is little on the calendars this week.