The rising geo-political risks in Iran and Nigeria have put pressure on oil prices, raising concerns that inflation might escalate again. |
The risk to the administration seems to be dissipating ... we will probably see a more stable market next week. |
The slight rejection on the three-month [bills] shows that government has an improved cash position. |
The strong remittances and additional government spending this year should help mitigate the adverse impact of additional taxes and high oil prices on consumer spending. |
There could be a quarter-point increase every quarter to (a total of) one percentage point for the full year. |
There's still an upside for the peso. |
This is good news but we can't say at this point that a recovery is now underway. We want to see first how exports will perform in the next two to three months before we can make any conclusion. |
This will be taken positively by the market. Investors have been worried about the government's finances. |
We are seeing the government's commitment to solve its fiscal problems more aggressively. That will translate to more investments. |
We could still probably go to 150-170 (basis points on the Philippine five-year CDS). People are going to be waiting for the first-quarter tax numbers before taking it to those levels. |