travel insurance protection insured trip abroad security

Author Topic: Bond offers ‘successful’ in first 5 months of Duterte presidency  (Read 276 times)

  • Webmaster
  • *****
  • Posts: 22006
  • NEED A WEBSITE? 09206301130 |
    • Share Post
Bond offers ‘successful’ in first 5 months of Duterte presidency

MANILA, Dec. 9 (PNA) -- Retail and treasury bond offerings in the first five months of the Duterte administration have been “generally successful” so far despite market jitters triggered by external factors, such as the projected rate increase by the US Federal Reserve and the United Kingdom’s exit from the European Union last June, according to National Treasurer Roberto Tan.

As for the impact of Donald Trump’s victory in the US presidential elections, Tan withheld his observations, saying that it would be better to await the policies that the new American leader would announce and implement starting next year.

The Bureau of Treasury (BTr) holds regular bond auctions twice a month for Treasury bills with short-term tenors of 90 days, 180 days and 1 year and another for longer-term Treasury bonds—for a combined total offering of around Php 45 billion.

It also issued Retail Treasury Bonds (RTBs) with 10-year tenors two months ago, which raised Php 100 billion for the government, more than three times the minimum target of Php 30 billion.

[These bond offerings] have been quite successful, fully subscribed except in the latter part of this year as a result of the volatility and uncertainty in the market because of the Federal actions that are being awaited by the public,” Tan said.

“I think once the climate settles down, investors for government securities will return in a very, very strong way,” he said.

Contrary to speculations by certain quarters, Tan said President Duterte’s non-conventional statements have had no impact on the T-bill and Treasury bond floats because buyers are mostly domestic investors who are aware that such remarks would not affect the country’s macroeconomic fundamentals.

“These are mainly domestic investors, and they look at it as nothing that is affecting the macroeconomic policy of the government,” Tan said.

“On the bond market it’s really more of the wait-and-see attitude of many of those who just like to park their money, particularly for the short term. That’s why the BSP Term Deposit Facility is still being saturated by bids from banks and other institutional investors,” he added.

He said that on the T-bills, the BTr had to make some partial awards last month because investors were demanding higher yields, which, based on the Treasury’s evaluation of the market, were “actually an opportunistic bid by many of the Government Securities Eligible Dealers (GSEDs).”

Tan said a Trump presidency and how the Federal Reserve will act on the rate increase would determine market prospects in 2017, although on the part of the Fed, many analysts believe that it “will be very dovish in its statement on what the expectations will be for next year.” (PNA)

Romans 10:9-10
"If you declare with your mouth, “Jesus is Lord,” and believe in your heart that God raised him from the dead, you will be saved. For it is with your heart that you believe and are justified, and it is with your mouth that you profess your faith and are saved."

My Facebook Profile:
RSS Feeds Tubag Bohol Feed Burner

Share via facebook Share via linkedin Share via pinterest Share via tumblr Share via twitter

The consequences of a Duterte presidency

Started by hubag bohol on LGU Philippines

6 Replies
Last post April 28, 2016, 12:08:00 PM
by islander
EU open to new directions under Duterte presidency

Started by on Bible Study

0 Replies
Last post March 07, 2017, 02:46:45 PM
Cayetano: Duterte presidency a ‘disaster’ for criminals

Started by on Talk of the Town

1 Replies
Last post January 22, 2016, 10:38:36 AM
by fdaray
Duterte admits he was wrong on 3-6 months drug war deadline

Started by rogamz on Philippine Laws

3 Replies
Last post August 18, 2017, 11:53:39 PM
by islander
Watch Duterte Duterte Song by: Lalabz Mae of MOcha Girls

Started by wardiflex on Tira-Pasagad | Saksak-Sinagol

1 Replies
Last post December 11, 2015, 01:49:00 PM
by wardiflex

SMF spam blocked by CleanTalk
ESET Antivirus and Internet Security for Mac computers and laptops - Save 25%
Powered by SMFPacks SEO Pro Mod | Sitemap
Mobile View
SimplePortal 2.3.7 © 2008-2017, SimplePortal