Instead of providing you with the usual parameters that come with a macro prognosis, allow me instead to discuss the bond market in the context of our broad macro-financial situation. This would be our natural recourse given the inherent relationship between interest rates and fixed-income valuation on one hand and between economic activity and capital-raising on the other.
When structure translates into operations To talk about the Philippine bond market necessarily means talking about the Philippine government securities (GS) market. In addition, it is probably not much of an exaggeration to argue that the local bond market is inherently linked to fiscal policy.