November 19, 2019
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||3.876||▲ 1.2||▼ 1.9||▼ 300.9|
|5 Year||4.252||▼ 1.9||▼ 3.9||▼ 278.5|
|10 Year||4.713||0.0||▲ 1.5||▼ 235.2|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|PHP per USD||50.866||▼ 0.4||▼ 0.1||▲ 3.2|
|PHP per JPY||0.469||▼ 0.5||▼ 0.6||▲ 2.2|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|ON PHIREF||2.665||▼ 3.0||▼ 38.3||▼ 748.7|
|3M PHIREF||3.295||▼ 2.6||▲ 0.3||▼ 258.5|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|BSP Overnight Borrowing
(Reverse Repo) Rate
|4.000||▼ 25.0||▼ 50.0|
|BSP Overnight Lending
|4.500||▼ 25.0||▼ 50.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
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 previous issues PDF|
Between 31 August and 15 October, the Philippines’ local currency (LCY) government bond yield curve steepened as yields at the shorter end of the curve declined and those at the longer end rose. Yields rose in early September, particularly among longer tenors, as the market tracked movements in United States (US) Treasury yields, which rose due to positive developments in the trade talks between the People’s Republic of China and the US. Market participants also started to take profits following the rally in government bonds since the start of the year, which was brought about by the monetary easing conducted by the Bangko Sentral ng Pilipinas (BSP).
LCY bonds outstanding in the Philippine market marginally declined 0.1% quarter-on-quarter (q-o-q) to PHP6.69 trillion (USD129.2 billion) at the end of September from PHP6.71 trillion at the end of June. This was driven by a 0.7% q-o-q decline in government bonds outstanding to PHP5.3 trillion. Meanwhile, corporate bonds outstanding rose 2.1% q-o-q to PHP1.4 trillion at the end of September.
In October, the Bangko Sentral ng Pilipinas launched the first Other Financial Corporations Survey (OFCS), a comprehensive measure of the assets and liabilities of other financial corporations. These include, among others, trust entities, private and public insurance companies, government financial institutions, and nonmoney market funds covering unit investment trust funds and investment companies. The OFCS aims to identify the concentration of vulnerabilities in the financial sector in relation to other sectors in the economy.
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