Hasn’t it been portrayed by media and the establishment that the Philippine political economy have developed 'invincibility' and or 'immunity' to all sorts of risks?
If so, then who from the establishment institution/s has been so desperate or frantic enough to raise short term liquidity by dumping 1 month bills on the marketplace to send yields of 1 month treasury to 3 year highs?! And why?? (charts from investing.com)
Yet there have been repeated attempts at vehemently “massaging” yields as seen during the past few days.
Unfortunately for the index managers, it appears that the developing 2 year uptrend has signified a powerful force to have kept manipulations at bay.
Yet more signs of record stocks in the face of record imbalances at the precipice.