BOI Investment Pledges Increase

Investment pledges with the Board of Investments (BoI), the Philippine Economic Zone Authority (PEZA), the Subic Bay Metropolitan Authority (SBMA), and Clark Development Corp. increased to Php300.91 billion during the first half of the year.

The increase in investment commitments is a reflection of an improved investor confidence and interest in the country. The government estimates that these will generate 77,892 additional jobs, or 17% higher than last year.

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Prices of local government securities were little changed yesterday on light trading ahead of the release of US non-farm payrolls data. Yields declined by an average of 0.16 basis points with the long-end of the curve rising by 12.4 basis points. Meanwhile, the short-end and the belly of the curve dropped by 5.1 and 3.0 basis points, respectively.

The Philippine peso lost ground yet again on Thursday as market players anticipate better-than-expected US non-farm payrolls, signaling the Fed may begin to taper its QE. The local currency surrendered 14 centavos to close at 43.56

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