Phl bonds enter final review for J.P. Morgan’s EM index

The Philippines has entered the final review stage for possible inclusion in J.P. Morgan’s widely tracked Government Bond Index for Emerging Markets (GBI-EM), a move expected to draw more foreign investors into peso-denominated bonds and lower borrowing costs.

- By KEISHA TA-ASAN

In a report issued on Sept. 12, J.P. Morgan placed Philippine government securities on its positive watchlist, marking the last step before a potential upgrade to the GBI-EM Global Diversified Index.

A decision is expected within six to nine months, with results likely by the first quarter of 2026.

Should the Philippines be included, peso bonds will account for around one percent of the GBI-EM Global Diversified Index. For potential inclusion in the index are Philippine government bonds issued from 2023 with tenors up to 20 years.