Philippine Bonds Seen Getting Tailwind From Falling Rice Prices
- India’s relaxed rice export curbs a boon for Philippines: SEB
- RCBC sees 10-year yields falling to 5.5% in next six months
Philippine sovereign bonds are seen extending gains as falling rice prices cool inflation and back the case for more interest-rate cuts.
Inflation in the country slowed to a four-year low in September before India eased restrictions on rice exports. HSBC Holdings Plc expects the Philippines to benefit the most from India’s move as rice accounts for 9% of its consumer price inflation basket.