Philippines

The peso has rebounded strongly after being battered during the Q206 EM correction. We could see short-term slippage as the unit takes a breather amidst some oil price-related angst.... 2006-08-24

Rising remittances from overseas Filipino workers (OFWs) should continue to boost the peso. Although remittances were down 3.26% m-o-m at US$1.104bn in June, they surged by 18.07%... 2006-08-15

The Philippines is due to issue US$750mn in foreign bonds later on Tuesday, making it the country's last such sale this year. The existing US$ 2016 and US$ 2031 instruments will be... 2006-07-25

A strengthening peso is helping to offset inflationary pressures, but upward price pressures remain salient, in our view. Recent price data and a strong peso bounce in the aftermath... 2006-07-11

Although we are less bearish towards EM assets than we were, our negative stance remains. In this respect, before discussing our surveyed investment banks' current external debt positions,... 2006-06-30

Even before the current EM correction, the peso had eased somewhat, from a 3¾-year high of PHP50.83/US$ on March 20, following an impressive rally since Q405. However, the unit has... 2006-05-18

One of our key emerging market CDS spread compression plays over the past eight months has been the Philippine 5-year CDS over its Indonesian counterpart. The spread between the two... 2006-05-09

Philippine stocks saw further gains on Thursday, and appear to be on course towards reaching our long-term target of 2,600, which we first suggested in January 2005. The PSI index... 2006-04-27

Our bullish view of Taiwan's Taiex and the Philippines' Stock Exchange Index (PSI) is playing out, with the former rising to a two-year high of 6,808.50, and the latter closing at... 2006-04-12

The past week has seen a stream of positive developments for the Philippines' fiscal and debt situation. That said, the US$ Global 25 bond and 5-year CDS have largely shrugged off... 2006-04-06