What a truly remarkable development in the domestic bond markets today.
The yield of Philippine 1 month Treasury bill soared to its highest level [to at least 2012]!
I say "at least" because that's the max from investing.com charts
Today's astounding surge in the yield of the 1 month bill has narrowed its spread with the 10 year benchmark to a mere 15 bps!
This I believe, like the nominal yield equivalent, represents a milestone!
As I have recently noted, the inversion process within the Philippine treasury spectrum appear to be spreading. And definitely this would NOT be a good news for a credit dependent economy and Philippine risk assets too!
No comments:
Post a Comment