Russia expects to recover far less from ‘bad bank’ assets — sources
MOSCOW — Russia will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank.
RBNZ may be next central bank to turn dovish as worries grow
NEW ZEALAND’S central bank may acknowledge the rising risk of an interest-rate cut when it delivers its first policy decision of the year.
Peso recovers against dollar on ‘slightly better’ trade data
THE PESO recovered against the dollar on Tuesday following the resumption of trade talks between the United States and China as well as the country’s “slightly better” December trade data.
Gov’t makes full award of T-bills
THE GOVERNMENT once again made a full award of the Treasury bills it offered on Monday, amid robust demand following the decision of the local and US central banks to keep interest rates steady.
Rediscount loans hit P14.5B in January
BANKS TAPPED the rediscount window of the Bangko Sentral ng Pilipinas (BSP) as the year opened, with the extra cash meant to support import payments and capital spending.
BDO raises P35 billion from fixed-rate peso bonds
BDO UNIBANK, Inc. raised P35 billion from the issuance of fixed-rate peso bonds, which will be used to expand its business.
Peso briefly touches P51:$1 level
THE PESO declined against the dollar on Monday, even as it brushed the P51 to $1 level intraday, as investors flocked to safer currencies amid uncertainty in the trade negotiations between the United States and China.
T-bills may fetch higher yields
GOVERNMENT SECURITIES on offer this week are expected to fetch higher yields as investors likely price in the possible cut in reserve requirements and anticipation of a retail treasury bond (RTB) offering.
Yields on gov’t debt slip on increased demand
YIELDS ON government securities moved sideways last week on better-than-expected January inflation data and the central bank’s decision to keep rates steady.
Peso seen to strengthen vs dollar this week
THE PESO is expected to strengthen further this week as the dollar will likely depreciate on expected dovish remarks from Federal Reserve (Fed) officials and potentially weaker US economic data.
Robinsons Bank no longer keen on issuing LTNCDs
ROBINSONS BANK Corp. said it may no longer tap its long-term negotiable certificates of deposit (LTNCD) program, as market players are now interested at parking their funds in shorter-term corporate bonds.
BSP seen keeping rates steady
THE CENTRAL BANK has enough room to keep interest rates steady over the next few months, global banks said in separate reports, noting that attention has shifted to market liquidity now that inflation has slowed.