Halister News

(Bloomberg) -- Peso advances for a second day despite exports falling 4.5% y/y in Feb., exceeding the median est. of a 3.2% decline in Bloomberg survey.

• Competition chief favors easing policy restricting rice imports
• BSP seeks stiffer penalties for errant banks in law against money laundering, Deputy Governor Espenilla says
  • Rizal Bank to return portion of heist money if found liable, bank President Lorenzo Tan says
• Vehicle sales rose 17% y/y last month, industry group says
• Peso gains 0.2% to 46.015 per dollar at close, according to bankers’ association data
• Peso’s one-month forwards steady at 46.13 per dollar
• ING sees 1Q GDP growth of 6.5% on the back of positive fiscal expenditure, election spending and rising remittances on a peso basis, according to April 11 note; says peso could test stronger end of 45.90-46.50 trading range vs dollar this week
• 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 3 bps to 3.9250%, according to Tradition pricing