PHP: USD/PHP Under 56.00, Fresh Lows Back To Sep 2024
Apr-30 03:41
USD/PHP has fallen below 56.00 for the first time since Sep last year. We were last under 55.90, up ...
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JGBS AUCTION: 2-Year JGB Auction Results
Mar-31 03:41
The Japanese Ministry of Finance (MoF) sells Y1,978.8bn 2-Year JGBs:
- Average Yield: 0.863% (prev. 0.826%)
- Average Price: 100.071 (prev. 99.948)
- High Yield: 0.869% (prev. 0.833%)
- Low price: 100.060 (prev. 99.935)
- % Allotted At High Yield: 46.8270% (prev. 62.4996%)
- Bid/Cover: 3.4085x (prev. 3.1637x)
ASIA STOCKS: India Inflows Intensify as Taiwan Goes the other Way.
Mar-31 03:34
With tariff headlines dominating, India is considering lowering tariffs on US agriculture products as strong inflows continue into the country. Taiwan and South Korea enjoyed a short respite in flows, only for that to turn significantly negative again with Indonesia and Malaysia out.
- South Korea: Recorded outflows of -$513m Friday, bringing the 5-day total to -$228m. 2025 to date flows are -$4,095m. The 5-day average is -$46m, the 20-day average is -$75m and the 100-day average of -$93m.
- Taiwan: Had outflows of -$1,028m Friday, with total outflows of -$2,607m over the past 5 days. YTD flows are negative at -$17,432. The 5-day average is -$521m, the 20-day average of -$614m and the 100-day average of -$255m.
- India: Saw inflows of +$947m as of the 27th, with a total inflow of +$3,231m over the previous 5 days. YTD outflows stand at -$12,796m. The 5-day average is +$646m, the 20-day average of -$14m and the 100-day average of -$144m.
- Thailand: Recorded outflows of -$67m yesterday, totaling -$121m over the past 5 days. YTD flows are negative at -$1,128m. The 5-day average is -$24m, the 20-day average of -$30m the 100-day average of -$18m.
- Philippines: Saw inflows of +$1m yesterday, with net outflows of -$34m over the past 5 days. YTD flows are negative at -$214m. The 5-day average is -$7m, the 20-day average of +$2m the 100-day average of -$7m.
JGBS AUCTION: 2Y Supply Faces A Yield Near Highest Since ‘08 But Steeper Curves
Mar-31 03:16
The Japanese Ministry of Finance (MoF) will today sell Y2.6tn of 2-Year JGBs. The MoF last sold 2-year debt on 27 February 2025.
- Currently, the 2-year yield stands slightly higher than last month’s outing, hovering just below the highest level since 2008 set last week.
- The 2/5 and 2/10 yield curves are 5-10bps steeper compared to the previous month's auction.
- Given these dynamics, it remains uncertain whether today’s elevated 2-year yield will be sufficient to attract strong demand in the auction.
- Results are due at 0335 GMT / 1235 JST.
