Philippines
Market Watch
| Close of May 29, 2020 |
Change From | |||
|---|---|---|---|---|
| Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
| 2 Year | 2.537 | ▼ 1.9 | ▼ 19.9 | ▼ 120.1 |
| 5 Year | 2.762 | ▲ 1.1 | ▼ 16.8 | ▼ 129.9 |
| 10 Year | 3.148 | ▼ 2.3 | ▼ 13.1 | ▼ 131.3 |
|
* Government bond yield changes are expressed in basis points. |
||||
| Currencies | Latest Rate | Previous Day | Previous Week | YTD |
| PHP per USD | 50.605 | ▲ 0.2 | ▲ 0.2 | ▲ 0.1 |
| PHP per JPY | 0.469 | ▲ 0.4 | ▲ 0.4 | ▼ 0.6 |
|
* Exchange rate changes are expressed as a percentage change. |
||||
| Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
| ON PHIREF | 0.379 | ▼ 43.8 | ▲ 73.7 | ▲ 727.3 |
| 3M PHIREF | 1.529 | ▼ 15.7 | ▲ 1.8 | ▼ 152.6 |
|
* Interest rate changes are expressed in basis point change. |
||||
Policy Rates
| Change From | ||||
|---|---|---|---|---|
| Policy Rates | Latest Rate (16-Apr-2020) |
Previous Rate (19-Mar-2020) |
YTD Rate |
|
| BSP Overnight Borrowing (Reverse Repo) Rate |
2.750 | ▼ 50.0 | ▼ 125.0 | |
| BSP Overnight Lending (Repo) Rate |
3.250 | ▼ 50.0 | ▼ 125.0 | |
|
* Policy rate changes are expressed in basis point change. |
||||
Sovereign Ratings
| Agency | Rating | Outlook | Date | |
|---|---|---|---|---|
| Regional Rating Institutions | ||||
| R&I | BBB+ | stable | 2020-02-07 | |
| RAM | BBB2 | stable | 2019-11-27 | |
| Non-Regional Rating Institutions | ||||
| Fitch | BBB | positive | 2020-02-11 | |
| S&P | BBB+ | stable | 2019-04-30 | |
- Size of LCY Bond Market
- Size of LCY Bond Market in % of GDP
- Monthly Bonds Outstanding in USD
- FCY Bonds Outstanding
- Breakdown of LCY Bond Market Issuance
- G3 Currency Bond Issuance
- Government Securities Maturity Profile - LCY
- Corporate Securities Maturity Profile - LCY
- Trading Volume
- Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
- Yield Volatility - 10yr LCY Bonds
- Bid-Ask Spreads (Survey data)
- Government Bond Market Structural Issues
- Corporate Bond Market Structural Issues
ASEAN+3 Bond Market Guide
ASEAN+3 Bond Market Guide 2017: Philippines
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides
information such as the history, legal and regulatory framework, specific characteristics of the market,
trading and transaction (including settlement systems), and other relevant information. The Bond
Market Guide 2017 for the Philippines is an outcome of the support and contributions of ASEAN+3
Bond Market Forum members and experts, particularly from the Philippines.
Download Report
ASEAN+3 Multi-Currency Bond Issuance Framework
Implementation Guidelines for the Philippines
February 2020
The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) Implementation Guidelines for the Philippines are provided to review the AMBIF Elements and detail the corresponding features of the Philippine market in relation to each element.
Download Report
Implementation Guidelines for the Philippines
August 2015
The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) Implementation Guidelines for the Philippines are provided to review the AMBIF Elements and detail the corresponding features of the Philippine market in relation to each element.
Download Report
| * Download previous issues PDF | ||||
|---|---|---|---|---|
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Market Summary
Size and Composition
The amount of local currency (LCY) bonds outstanding in the Philippine market fell 0.8% quarter-on-quarter (q-o-q) in the fourth quarter (Q4) of 2019 to PHP6,645.8 billion (USD131.2 billion) at the end of December, led by a decline in the outstanding stock of government bonds. LCY government bonds fell 2.1% q-o-q to PHP5,141.1 billion, while the corporate bond market expanded 4.0% q-o-q to PHP1,504.7 billion. On a year-on-year basis, the Philippine LCY bond market grew 9.0%.
Corporate Bond Issuance
Corporate bond issuance in the Philippines surged 42.4% q-o-q to PHP106.4 billion in Q4 2019 from PHP74.7 billion in the previous quarter.
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