Opera price target raised to $24.50 from $23.50 at Goldman Sachs
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Bullish Bets on Philippine Bonds Grow on Index Inclusion Hopes
The Philippines may soon rise from the bottom of Southeast Asia's government debt leaderboard, thanks to the prospect of entering a major global bond index and further local monetary easing. Goldman Sachs Group Inc. is bullish on peso government notes ahead of the latter's potential inclusion into JPMorgan Chase & Co.'s flagship emerging-market gauge — the GBI-EM Global Diversified index — in September. A local currency that's more insulated from US tariffs and domestic interest rate cuts are also supportive, Goldman strategists including Danny Suwanapruti and Xinquan Chen wrote in a recent note.
