INVESTMENT MANAGEMENT

Peso bond investors took comfort in central bankers' announcement that they are not looking to raise reserve requirements. The benchmark HSBC Liquid Bond Index rose 0.21% week-on-week (WoW) to 275.91. Dollar bonds meanwhile held steady throughout most of the week, but then negative news out of Greece and a higher than anticipated jobless claims report in the US caused a sell-off in the high yield space. For the week, the JACI Philippines was down 0.82%, with most of the losses coming in on Friday's session.

The index continued its decline on thin volume. Value turnover in today’s session was a measly P1.87 billion with 35 stocks advancing and 56 declining. The PSEi was down 9.04 points or 0.32% to 2,846.60.