0228 GMT - Goldman Sachs recommends going long Philippine 5-year government bonds on a FX-hedged basis, members of its Economics Research team say in a report. The Philippine central bank is dovish, with the governor recently mentioning that a rate cut in August is "on the table," the members note. The Fed is likely to embark on another rate-cut cycle, the dollar is expected to continue drifting lower against Asian currencies, and the Philippines' inflation is low, they say. As such, GS is bullish on Philippine government bonds. Also, supply/demand dynamics will probably turn more favorable for the local bond market this month, the members add. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 05, 2025 22:28 ET (02:28 GMT)

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