RP yields dip; San Miguel bonds eyed

HONG KONG – Philippine government bond yields were flat to lower in the secondary market on Thursday, but some traders see upward pressure on rates over the short-term ahead of the bond sale from San Miguel Brewery.

Yields on the belly of the curve, where most of the trades are concentrated, were steady to 5.5 basis points lower, on hopes the central bank will further trim rates and cut reserve requirement on bank deposits, traders said.

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