SE Asia: Recap of Arroyo's declaration of Emergency State in Phillipines

Time Article

Gloria Arroyo declared last Friday a state of emergency in the Phillipines as she has announced she is fending off a coup d'etat. It seems from the substance of the time article that she does not have concensus public support behind her.

The investment ramification of this event is primarily on the debt markets, as Phillipines Sovereign issues have been among the most subscribed, having posted healthy returns across the board in prior years.