Financial Markets…U.S. Treasuries advanced for a fourth consecutive day in Tuesday, pushing the benchmark 10-year yield down to as low as 1.57% (the lowest since Sept. 5), as investors remained concerned about the so-called U.S. fiscal cliff.

The Philippines’ exports rebound 22.8% (y/y) in September compared to a 9% contraction in August, which was the fastest pace in almost two years led by a strong recovery of electronics sector exports directed toward two lead markets – Japan and the U.S.

Spanish borrowing costs rose to a six-week high, with the benchmark 10-year bond yield rising as high as 6 basis points to 5.96%. The country’s 2-year rate also rose, climbing as much as 7 bps to 3.28%, the highest increase in a month. Developing-country stock markets posted their longest losing streak since August, with the benchmark MSCI Emerging Market Index sliding to its fourth day and gearing for the lowest closing since mid-September.

Russian share led the decline with the benchmark Micex Index losing 1.95% as oil prices continued to drop. Elsewhere, Brazil’s Bovespa index dropped 0.4%, while the Czech Republic’s PX index retreated 1.1%. High-income Economies…Euro Area finance ministers gave a Greece a two-year extension until 2016 to meet its deficit-reduction targets

 

Here is the original:
Prospects Daily: Greece granted 2-year extension to reach deficit targets, Philippines exports expand at the fastest pace in two years

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Will cryptocurrency expansion continue among emerging markets in 2022?

Emerging markets were at the forefront of last year’s massive growth in global cryptocurrency adoption. With this growth widely tipped to continue into 2022, a range of countries will see their crypto markets mature or expand.

The Philippines Amends its Foreign Investment Act

The amendments aim to promote and attract foreign investments by allowing, for the first time, international investors to set up and fully own domestic enterprises (including micro and small enterprises in the Philippines.

New Requirements for MSME Franchise Holders in the Philippines

MSMEs in the Philippines are defined as businesses that employ between 10 to 200 workers and have asset sizes (excluding land) between PHP 3 million (US$56354) and PHP 10 million (US$187,866).