Philippines' 10-year T-bond rate moves sideways due to steady inflation expectations

The country's 10-year Treasury bond (T-bond) rate moved sideways on Tuesday due to expected steady July inflation.

National Treasurer Rosalia de Leon said BTr offered PHP35 billion in T-bonds, with tenders reaching PHP70.733 billion and a full award made.

De Leon also opened the tap facility window to re-offer the same 10-year paper for PHP7 billion.

The Philippine Statistics Authority is set to report July's inflation rate on Thursday, with BSP forecasting it within 3.9% to 4.7%. June's inflation was at 4.1%, down from 4.5% in May.