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Philippines to Revamp Bond Pricing Ahead of JPM Index Inclusion

Bloomberg Markets Friday 31 July 2026, 02:54 UTC By Ditas B Lopez 1 min read
Key Points

Bonds Philippines to Revamp Bond Pricing Ahead of JPM Index Inclusion The Philippines plans to change the way it prices local-currency bonds by removing the impact of withholding tax, a shift that may saddle some existing investors in the nation’s $230 billion market with losses, according to people familiar with the matter. The overhaul will be done in two stages, with the first expected by the end of the year, said the people who asked not to be identified because they are not authorized...

Bonds Philippines to Revamp Bond Pricing Ahead of JPM Index Inclusion The Philippines plans to change the way it prices local-currency bonds by removing the impact of withholding tax, a shift that may saddle some existing investors in the nation’s $230 billion market with losses, according to people familiar with the matter. The overhaul will be done in two stages, with the first expected by the end of the year, said the people who asked not to be identified because they are not authorized to speak publicly on the matter. Authorities will initially stop including the tax effects of bond premiums and discounts. They will then change how tax is collected on accrued interest so it is no longer withheld when the security is sold.
Philippines (LOCATION) JPM (ORG)
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