Analysis

Local bond yields climbed across the curve amid quickening inflation, currency weakness, and heavy supply.

Higher rates, firmer oil prices, and lingering macro uncertainty keep credit investors firmly in risk-off mode.

 Philippine headline inflation quickened in September 2026, driven by elevated food, energy and rental prices.   

Local bond market activity was concentrated in the new RTB issuance, though rising global rates and inflation concerns nudge yields broadly higher.

A bit of good news from the Middle East perked up investor mood. Locally, however, unemployment and inflation may remain elevated.

In the central bank's latest survey, Philippine households remain mindful of persistent economic pressures and uncertainty.

The Philippines’ trade deficit hit a more-than-year low in August as exports grew faster and import growth slowed.

Inflation likely stayed above target in September, driven by bad weather and sustained volatility in global crude prices.

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