Philippine Money Market Group Says Banks Cautious of Trade Risks

President Donald Trump’s ever-changing tariff onslaught is overshadowing the Philippines’ sound economic fundamentals and will likely keep banks selective in deploying funds, according to the head of the group representing fixed-income traders.

“I haven’t seen this level of uncertainty,” Justin Robert Ladaban, president of the Money Market Association of the Philippines, said in an interview late Monday. “Unlike in the pandemic where responses were pretty much similar across jurisdictions, it’s not the case now.”

Global markets saw intense volatility last week, with multiple markets posting record losses and gains as the Trump administration rolled out tariffs, pared them ...