Philippine Bonds Seen Outperforming Asian Peers if Geopolitical Risks Subside

Philippine bonds are positioned to outperform other Asian debt markets if geopolitical tensions ease, according to Brandywine Global Investment Management. The 10-year yield has surged over 200 basis points this year, making current levels 'very attractive.' The Bangko Sentral ng Pilipinas (BSP) implemented an outsized 50-basis-point rate hike in October to combat price pressures, making it the most aggressive central bank in Southeast Asia in its tightening policy since the start of the Iran war.