December 13, 2017, 5:38 am
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1 Philippine Peso = 0.07286 UAE Dirham
1 Philippine Peso = 2.2371 Albanian Lek
1 Philippine Peso = 0.03532 Neth Antilles Guilder
1 Philippine Peso = 0.34185 Argentine Peso
1 Philippine Peso = 0.02619 Australian Dollar
1 Philippine Peso = 0.03532 Aruba Florin
1 Philippine Peso = 0.03968 Barbados Dollar
1 Philippine Peso = 1.64127 Bangladesh Taka
1 Philippine Peso = 0.0329 Bulgarian Lev
1 Philippine Peso = 0.00748 Bahraini Dinar
1 Philippine Peso = 34.73174 Burundi Franc
1 Philippine Peso = 0.01984 Bermuda Dollar
1 Philippine Peso = 0.0268 Brunei Dollar
1 Philippine Peso = 0.13611 Bolivian Boliviano
1 Philippine Peso = 0.06556 Brazilian Real
1 Philippine Peso = 0.01984 Bahamian Dollar
1 Philippine Peso = 1.27679 Bhutan Ngultrum
1 Philippine Peso = 0.20509 Botswana Pula
1 Philippine Peso = 397.22221 Belarus Ruble
1 Philippine Peso = 0.03964 Belize Dollar
1 Philippine Peso = 0.02545 Canadian Dollar
1 Philippine Peso = 0.01965 Swiss Franc
1 Philippine Peso = 13.01091 Chilean Peso
1 Philippine Peso = 0.13129 Chinese Yuan
1 Philippine Peso = 59.76786 Colombian Peso
1 Philippine Peso = 11.15079 Costa Rica Colon
1 Philippine Peso = 0.01984 Cuban Peso
1 Philippine Peso = 1.85774 Cape Verde Escudo
1 Philippine Peso = 0.43159 Czech Koruna
1 Philippine Peso = 3.50853 Djibouti Franc
1 Philippine Peso = 0.12539 Danish Krone
1 Philippine Peso = 0.95833 Dominican Peso
1 Philippine Peso = 2.2829 Algerian Dinar
1 Philippine Peso = 0.26354 Estonian Kroon
1 Philippine Peso = 0.35337 Egyptian Pound
1 Philippine Peso = 0.53936 Ethiopian Birr
1 Philippine Peso = 0.01684 Euro
1 Philippine Peso = 0.04169 Fiji Dollar
1 Philippine Peso = 0.01486 Falkland Islands Pound
1 Philippine Peso = 0.01487 British Pound
1 Philippine Peso = 0.08926 Ghanaian Cedi
1 Philippine Peso = 0.93552 Gambian Dalasi
1 Philippine Peso = 178.63095 Guinea Franc
1 Philippine Peso = 0.14558 Guatemala Quetzal
1 Philippine Peso = 4.02202 Guyana Dollar
1 Philippine Peso = 0.1549 Hong Kong Dollar
1 Philippine Peso = 0.46552 Honduras Lempira
1 Philippine Peso = 0.12694 Croatian Kuna
1 Philippine Peso = 1.24167 Haiti Gourde
1 Philippine Peso = 5.29563 Hungarian Forint
1 Philippine Peso = 269.1865 Indonesian Rupiah
1 Philippine Peso = 0.07009 Israeli Shekel
1 Philippine Peso = 1.27806 Indian Rupee
1 Philippine Peso = 23.49306 Iraqi Dinar
1 Philippine Peso = 705.13886 Iran Rial
1 Philippine Peso = 2.06944 Iceland Krona
1 Philippine Peso = 2.47282 Jamaican Dollar
1 Philippine Peso = 0.01405 Jordanian Dinar
1 Philippine Peso = 2.25091 Japanese Yen
1 Philippine Peso = 2.04067 Kenyan Shilling
1 Philippine Peso = 1.38333 Kyrgyzstan Som
1 Philippine Peso = 79.98016 Cambodia Riel
1 Philippine Peso = 8.15476 Comoros Franc
1 Philippine Peso = 17.85714 North Korean Won
1 Philippine Peso = 21.5879 Korean Won
1 Philippine Peso = 0.00599 Kuwaiti Dinar
1 Philippine Peso = 0.01627 Cayman Islands Dollar
1 Philippine Peso = 6.64028 Kazakhstan Tenge
1 Philippine Peso = 164.68253 Lao Kip
1 Philippine Peso = 29.98016 Lebanese Pound
1 Philippine Peso = 3.0371 Sri Lanka Rupee
1 Philippine Peso = 2.48373 Liberian Dollar
1 Philippine Peso = 0.26984 Lesotho Loti
1 Philippine Peso = 0.06049 Lithuanian Lita
1 Philippine Peso = 0.01231 Latvian Lat
1 Philippine Peso = 0.02708 Libyan Dinar
1 Philippine Peso = 0.18758 Moroccan Dirham
1 Philippine Peso = 0.34038 Moldovan Leu
1 Philippine Peso = 1.03175 Macedonian Denar
1 Philippine Peso = 27.00397 Myanmar Kyat
1 Philippine Peso = 48.25754 Mongolian Tugrik
1 Philippine Peso = 0.15954 Macau Pataca
1 Philippine Peso = 6.97619 Mauritania Ougulya
1 Philippine Peso = 0.67083 Mauritius Rupee
1 Philippine Peso = 0.30893 Maldives Rufiyaa
1 Philippine Peso = 14.20853 Malawi Kwacha
1 Philippine Peso = 0.37825 Mexican Peso
1 Philippine Peso = 0.08082 Malaysian Ringgit
1 Philippine Peso = 0.26978 Namibian Dollar
1 Philippine Peso = 7.06349 Nigerian Naira
1 Philippine Peso = 0.60937 Nicaragua Cordoba
1 Philippine Peso = 0.16524 Norwegian Krone
1 Philippine Peso = 2.0454 Nepalese Rupee
1 Philippine Peso = 0.02854 New Zealand Dollar
1 Philippine Peso = 0.00763 Omani Rial
1 Philippine Peso = 0.01984 Panama Balboa
1 Philippine Peso = 0.06416 Peruvian Nuevo Sol
1 Philippine Peso = 0.06375 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.16171 Pakistani Rupee
1 Philippine Peso = 0.07086 Polish Zloty
1 Philippine Peso = 111.49603 Paraguayan Guarani
1 Philippine Peso = 0.07223 Qatar Rial
1 Philippine Peso = 0.07805 Romanian New Leu
1 Philippine Peso = 1.16704 Russian Rouble
1 Philippine Peso = 16.57698 Rwanda Franc
1 Philippine Peso = 0.0744 Saudi Arabian Riyal
1 Philippine Peso = 0.15376 Solomon Islands Dollar
1 Philippine Peso = 0.26488 Seychelles Rupee
1 Philippine Peso = 0.13228 Sudanese Pound
1 Philippine Peso = 0.16689 Swedish Krona
1 Philippine Peso = 0.02681 Singapore Dollar
1 Philippine Peso = 0.01487 St Helena Pound
1 Philippine Peso = 0.4406 Slovak Koruna
1 Philippine Peso = 151.38888 Sierra Leone Leone
1 Philippine Peso = 11.05159 Somali Shilling
1 Philippine Peso = 412.7976 Sao Tome Dobra
1 Philippine Peso = 0.17361 El Salvador Colon
1 Philippine Peso = 10.21786 Syrian Pound
1 Philippine Peso = 0.26978 Swaziland Lilageni
1 Philippine Peso = 0.64663 Thai Baht
1 Philippine Peso = 0.0499 Tunisian Dinar
1 Philippine Peso = 0.04555 Tongan paʻanga
1 Philippine Peso = 0.07593 Turkish Lira
1 Philippine Peso = 0.13154 Trinidad Tobago Dollar
1 Philippine Peso = 0.59567 Taiwan Dollar
1 Philippine Peso = 44.30555 Tanzanian Shilling
1 Philippine Peso = 0.53914 Ukraine Hryvnia
1 Philippine Peso = 71.66666 Ugandan Shilling
1 Philippine Peso = 0.01984 United States Dollar
1 Philippine Peso = 0.57401 Uruguayan New Peso
1 Philippine Peso = 160.53571 Uzbekistan Sum
1 Philippine Peso = 0.19792 Venezuelan Bolivar
1 Philippine Peso = 450.57538 Vietnam Dong
1 Philippine Peso = 2.11786 Vanuatu Vatu
1 Philippine Peso = 0.05142 Samoa Tala
1 Philippine Peso = 11.04186 CFA Franc (BEAC)
1 Philippine Peso = 0.05357 East Caribbean Dollar
1 Philippine Peso = 11.51528 CFA Franc (BCEAO)
1 Philippine Peso = 1.99881 Pacific Franc
1 Philippine Peso = 4.95933 Yemen Riyal
1 Philippine Peso = 0.26986 South African Rand
1 Philippine Peso = 102.96627 Zambian Kwacha
1 Philippine Peso = 7.18056 Zimbabwe dollar

Rate hike keeps pressure on loan pricing

NEW YORK - Investors seeking to offset the effects of the Federal Reserve’s interest rate hike on Wednesday are pouring money into US loan funds, which is expected to keep a $208 billion refinancing wave rolling as new leveraged loans remain in short supply.

Cash is flowing into bank loan mutual funds and exchange-traded funds (ETFs), which have seen 18 weeks of inflows as investors buy floating-rate debt to secure higher yields and effectively hedge against further interest rate rises.

With few new buyout loans to invest in, borrowers have been able to use the unsatisfied demand to slash pricing on existing loans, which are being refinanced at a rate not seen since the second quarter of 2013 when refinancing hit a record $245.65 billion.

“Inflows remain very strong, which will keep the pressure on spreads and create opportunities for repricings,” said Jonathan Insull, portfolio manager at Crescent Capital Group. “Repricings tend to come in waves, and we have had a couple of tsunamis roll through here. Until we see heavier new issuance or inflows abate, it won’t be safe to go near the water.”

The Federal Reserve, which raised its target rate by 25bp to 75-100bp on Wednesday in the third rise since December 2015, said it expects two further increases this year and three in 2018.

Loan inflows of $11.1 billion so far this year follow $8.6 billion of inflows in 2016, which reversed a combined outflow of more than $45 billion in 2014 and 2015. There was a record annual inflow of $62.9 billion in 2013.

“Institutional interest in the asset class continues to be strong globally, so we continue to see demand,” said John Popp, global head and chief investment officer of the credit investments group at Credit Suisse Asset Management.

The influx of cash is boosting the assets under management of bank loan mutual funds and ETFs. Assets increased 4 percent to $146 billion in February from January, according to Thomson Reuters LPC data.

Investors seek floating-rate products, such as leveraged loans that pay lenders a coupon over Libor, in a rising interest rate environment as yields increase along with rates, unlike fixed-rate bonds, where returns fall as rates rise.

Inflows into loan funds are a “natural reaction to the expectation of not only seeing dividends move up, but also protecting your capital when invested in fixed income,” said Jeff Bakalar, co-head of Voya Investment Management’s senior loan group.

Bank loan funds are attracting global investors that face low or negative rates in various other regions. Some funds have been increasing existing loan allocations while others have even been reducing their longer duration bond allocations and moving into loans, Bakalar said.

High-yield bond funds have had three consecutive weeks of outflows, including US$5.7bn in the seven days ending March 15, according to Lipper.

“If you look at the history of Fed rate hikes, typically ahead of the move you will see inflows into the loan market and outflows from high-yield bonds, so [the last few weeks] is in line with history,” said Brad Rogoff, head of credit strategy at Barclays. – Reuters 
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Unhealthy foods

By PHILIP S. CHUA | December 13,2017
‘Hazardous to our health: Refined sugars, artificial sugars, processed meats/vegetables/fruits, etc., potato chips, and soft drinks of any kind.’

Opinion of the Day

Special Science & Nature City of the Philippines

By DAHLI ASPILLERA | December 13, 2017
‘1982--The 1st Science Community. Easily, the choice was Los Baños. Over the years, Los Baños and UPLB were consistent in producing research and development (R&D) outputs of service to the community. --DOST Secretary Dr. Fortunato Tanseco de la Peña.’