Date of Publication

7-31-2023

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions

Subject Categories

Finance | Macroeconomics

College

Ramon V. Del Rosario College of Business

Department/Unit

Financial Management Department

Thesis Advisor

Marycris O. Albao

Defense Panel Chair

Edna Delantar

Defense Panel Member

Patricia Benito
Mario Bautista

Abstract/Summary

This study analyzes the relationship of macroeconomic indicators with the yields of 10-year sovereign bonds in the ASEAN-4. The ASEAN-4 comprises Indonesia, Malaysia, the Philippines, and Thailand. The study has the objective of determining whether economic metrics are correlated with the yields of 10-year government bonds. A multiple linear regression analysis was conducted to answer the research questions and address the objectives of the study. Inflation rate proved statistically significant to bond yields in Malaysia, the Philippines, and Thailand. Oil prices are significant with the yields of Thai and Philippine bonds. Gold price is correlated to the yields of government bonds in Indonesia and Malaysia. The foreign exchange variable has a relationship with Indonesian government bond yields. The world uncertainty index has a relationship with the bond yields in the Philippines and Thailand. The economic growth variables, GDP per capita, savings, and foreign direct investment, were found to have no relationship with bond yields. However, in the regression analyses of the Philippines and Thailand, the savings variable was omitted due to the refitting of the models.

Abstract Format

html

Language

English

Format

Electronic

Keywords

Bonds—Southeast Asia—Rate of return; Southeast Asia—Economic conditions

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Embargo Period

8-6-2023

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