Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Philippine Bonds Climb on Rate-Cut Speculation; Peso Strengthens

Philippine bonds advanced, pushing the 15-year yield to the lowest level in more than three months, on speculation slowing inflation will give the central bank more room to lower interest rates. The peso rose.

Annual expansion in the $225 billion economy decelerated to 5.4 percent last quarter from 5.9 percent in the previous period, according to the median estimate of economists surveyed by Bloomberg News before an official report next week. Consumer prices climbed 3.1 percent in October from a year earlier, the least in four months. The Philippines plans to cut its overseas debt-sales target by as much as half in 2013 to $1.5 billion, Treasurer Rosalia de Leon said yesterday.

“Because of the benign inflation and growth concerns, there’s another rate cut being factored in,” said Antonio Espedido, treasurer at China Banking Corp. in Manila.

The yield on the 5.875 percent bonds due March 2032 fell six basis points, or 0.06 percentage point, to 5.58 percent as of 4 p.m. in Manila, according to Tradition Financial Services. That is the lowest level since July 27.

Bangko Sentral ng Pilipinas reduced its benchmark interest rate to a record-low 3.5 percent in October, the fourth reduction in 2012. Policy makers next meet to review borrowing costs on Dec. 13.

The peso gained 0.1 percent to 41.165 per dollar in Manila, data from Tullett Prebon Plc showed. One-month implied volatility, which measures exchange-rate swings used to price options, was unchanged at 4.6 percent.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.