It is no surprise therefore that markets have been recently more sensitive to accumulating debt burdens in government and quasi-government sectors. Sovereigns represent an increasing share of transactions in credit protection markets (CDS), as market participants challenge the assumption that they are risk-free. Government auctions have faced from time to time unsatisfactory demand, even for highly-rated issuers. Sovereign CDS premia remain volatile and elevated.
*** SM Retail Inc. Controllership and Financial Planning Senior Vice President Jonathan H. Ng, Filinvest Land Inc. Deputy Chief Finance Officer Janeth De los Reyes, and Robinsons Retail Holdings Inc. – Robinsons Supermarket Managing Director Stanley Co.; fellow BSPers, partners, ladies and gentlemen, good afternoon. The phrase "barya lang po sa umaga" – suggests there's really a shortage of coins.