YIELDS on the central bank’s term deposits climbed on Wednesday, with market players positioning ahead of an expected aggressive hike by the US Federal Reserve and amid growing inflation pressures at home. Demand for the term deposit facility (TDF) of the Bangko Sentral ng Pilipinas (BSP) reached P364.664 billion, surpassing the P300-billion offer and the […]
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Term deposit yields climb on inflation, hawkish BSP
YIELDS on the term deposits offered by the Bangko Sentral ng Pilipinas (BSP) climbed on Wednesday following the release of data showing faster inflation and hawkish signals from the incoming central bank chief. Total bids for the central bank’s term deposit facility (TDF) reached P355.58 billion on Wednesday, above the P300-billion offer as well as […]
Gov’t partially awards Treasury bills at higher rates
THE GOVERNMENT partially awarded the Treasury bills (T-bills) it offered on Monday, borrowing via the one-year paper for the first time since early last month even as investors asked for higher rates amid expectations of rate hikes here and abroad and an above 5% inflation print in May. The Bureau of the Treasury (BTr) raised […]
May inflation to settle within range of 5% to 5.8%
THE Bangko Sentral ng Pilipinas has projected May 2022 inflation to settle within the range of five to 5.8 percent.“The continued increase in domestic petroleum prices, higher prices of key food items, and peso depreciation are the primary sources of inflationary pressures during the month,” the BSP said Tuesday,May 31, 2022.But the central bank noted […]
Rising inflation, borrowing costs spell financial market uncertainty
1 of 5 BW FILE PHOTO FINANCIAL MARKETS could experience another volatility in the near term as major central banks turned hawkish amid inflationary pressures due to the ongoing Russia-Ukraine war, analysts said. In the first three months of the year, the Philippine Stock Exchange index (PSEi) averaged 7,230.08, up by 0.3% quarter on quarter […]
Gov’t fully awards 10-year bonds at higher rate
THE government fully awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher rates after the central bank hiked borrowing costs and amid expectations of further monetary tightening here and in the United States. The Bureau of the Treasury (BTr) raised P35 billion as planned from the reissued 10-year bonds […]
Treasury bills, bonds may fetch higher rates after BSP decision
RATES of government securities on offer this week are expected to increase following the central bank’s decision to hike borrowing costs amid rising inflation. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday or P5 billion each in 91-, 182- and 364-day securities. On Tuesday, it will auction […]
Yields on government debt rise as central bank hikes borrowing costs
YIELDS on government securities (GS) rose across the board last week after the Bangko Sentral ng Pilipinas (BSP) hiked benchmark rates to contain rising inflation. GS yields, which move opposite to prices, jumped by an average of 17.45 basis points (bps) week on week, based on the PHP Bloomberg Valuation (BVAL) Service Reference Rates as […]
Bids for T-bills rejected as market bets on BSP hike
THE GOVERNMENT rejected all bids for its offer of Treasury bills (T-bills) on Monday as investors asked for higher rates due to bets of a hike at the Bangko Sentral ng Pilipinas’ (BSP) policy meeting this week. The Bureau of the Treasury (BTr) did not award any T-bills during Monday’s auction even as tenders reached […]
Holcim net income drops on soft demand, higher expenses
HOLCIM Philippines, Inc. announced on Thursday that its first-quarter attributable profit dropped by 54% to P420.28 million from P908.92 million previously, due in part to soft cement demand and higher production and distribution costs. The company reported net sales of P6.7 billion for the first quarter of the year, which was 1% lower than the […]
URC income up 20% on higher sales, forex gains
UNIVERSAL Robina Corp. (URC) announced that its net income in the first quarter was higher by 20% to P3.6 billion from P3 billion, driven by higher sales and foreign exchange gains. “Over the past months, countries in the region have opened up their economies as COVID transitions to an endemic phase, we see market recovery,” […]
Reissued T-bonds fetch higher rates
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Wednesday as markets again reacted to a hawkish US Federal Reserve and an expected tightening by the Bangko Sentral ng Pilipinas (BSP) at the next Monetary Board meeting. The Bureau of the Treasury (BTr) raised just P25.10 billion via the reissued 10-year T-bonds […]
SBS swings to P27-M profit on business units’ higher sales
CHEMICALS distributor SBS Philippines Corp. (SBS) realized a net income of P27.4 million in the first quarter, reversing the P20.8-million loss in the similar period a year before, driven by higher sales from its business segments. “SBS achieved sales growth across all segments particularly the business recovery of the industrial and the feed and veterinary […]
Atlas Mining net income surges
ATLAS Consolidated Mining and Development Corp. posted a 191% year-on-year increase in its net income for the first quarter to P1.22 billion on the back of higher production and strong metal prices. In a stock exchange disclosure, Atlas Mining said that gross revenues for the quarter improved 54% year on year to P5.49 billion due […]
BTr makes partial award of bonds at higher rate
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher yields on expectations of rate hikes from the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). The Bureau of the Treasury (BTr) raised just P17.559 billion via the reissued 10-year T-bonds it auctioned off on […]
UnionBank nets P2.6B in Q1
UNIONBANK recorded a net income of P2.6 billion in the first quarter of 2022, translating to a return on equity of 9.2 percent.The bank’s recurring income grew 21 percent versus the same period last year as net interest income increased by 12 percent to P8.1 billion and fee-based income more than doubled to P1.4 billion.Net […]
Gov’t partially awards reissued bonds on US CPI, Fed hike fears
THE GOVERNMENT partially awarded the reissued Treasury bonds (T-bonds) it offered on Tuesday as investors asked for higher rates due to expectations of tightening by the US Federal Reserve and faster US inflation. The Bureau of the Treasury (BTr) raised just P22.027 billion via the reissued five-year T-bonds it auctioned off on Tuesday, less than […]
Rising mortgage rates won’t be enough to end US housing boom
RISING mortgage rates are already pricing out first-time homebuyers, but it’s not enough to extinguish the US real estate frenzy. US mortgage rates crossed 4% last week for the first time in nearly three years, a rapid ascent that has taken some industry experts by surprise. While higher borrowing costs may cool the pace of […]
Rates of T-bills, bonds may rise
RATES of government securities are expected to increase this week on continued inflation concerns as the war in Ukraine pushed up global oil prices. The Bureau of the Treasury (BTr) will offer P15 billion in Treasury bills (T-bills) on Monday or P5 billion each in 91-, 182- and 364-day securities. On Tuesday, it will auction […]
Del Monte Pacific profit up 64%
DEL MONTE Pacific Ltd. announced that its net profit for the nine-month period in 2021 was up 64% or $80 million due to higher sales and exports. In the third quarter of 2021, Del Monte Pacific sales grew by 5% to $659.4 million on higher sales in the United States and fresh pineapple exports. US […]