It's the economy - Duterte not main cause of Philippines market selloff

It's the economy - Duterte not main cause of Philippines market selloff
 

Philippine markets have been heavily sold down since July, primarily for economic reasons, not the festering row between new President Rodrigo Duterte and traditional ally the United States over his war on drugs, money managers say.
A slowdown in remittances from Filipinos working overseas, which have historically been a big driver of growth in the Southeast Asian nation, is a cause of concern.
For bond investors, a bigger concern is the heavy correlation between Philippine bonds and U.S. Treasuries, and the potential for Philippine bond prices to drop as market participants prepare for the... read more

 
4 October 2016 in Business, Views: 32
Source: Reuters
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