Halister News

(Bloomberg) -- Peso little changed as exports fall 4.5% y/y in Feb. vs median est. of 3.2% decline in Bloomberg survey.

• Vehicle sales rose 17% y/y last month, industry group says
• Philippines needs stronger anti-money laundering law, World Bank said yesterday
• Peso at 46.130 per dollar, according to bankers’ association data
  • USD/PHP has traded below 21-DMA, now at 46.304, since Feb. 24
• Peso’s one-month forwards slide 0.1% to 46.17 per dollar
• Remittance growth probably remained soft at +2.2% y/y in Feb., ANZ writes in April 11 note; says levels usually taper off in 1Q; sees 25 bps policy tightening in late 4Q, assuming implementation of interest-rate corridor in 2Q is policy neutral
• NOTE: Feb.’s remittance data is due on April 15; median est. in Bloomberg survey is for 4.0% increase
• International investors bought net $6.3m of local equities yesterday, first inflow in six days: exchange data
• Yield on 8% govt bonds due July 2031 rises 2 bps to 3.9150%, according to Tradition pricing