Peso, T-bills to take cue from July inflation data

MANILA, Philippines - Uncertainty will pervade the local currency and bond markets this week as investors brace for a higher inflation reading for July and more volatility in US stocks. The government is scheduled to release the July inflation data Tuesday. The peso is expected to remain locked in a tight range, trading anywhere between P44 and P44.50 against the dollar this week, traders said. It closed at P44.225 against the dollar last Friday. Yields from short-dated papers the Treasury plans to issue today are similarly expected to barely move from the rates they fetched last month. The benchmark 91-day Treasury bills were last priced at 5.699% in a July 7 auction, while the one-year paper, at 6.985%, when this instrument was sold last July 21. - BusinessWorld