Capping an exciting work week

Was in the BNP Paribas Office in Hong Kong Monday to Tuesday attending a workshop on FX and FI Derivatives. My blog entries of that trip at the following links:

• Hong Kong Disneyland
• Yet Another Midnight Stop in a Hotel Cafe
• BNP Paribas Workshop Day 1
• BNP Paribas Workshop Day 2
• Last Day in Hong Kong

Back in the Philippines last night. Reported to work this morning.

Today would have been a lackluster end to this week had not Senator Trillanes and his buddies decided to walk out of their Makati Regional Trial Court hearing and hole out at the Manila Peninsula Hotel ... prompting the appearance of the SWAT and the sending of a small tank to ram through the entrance and crash into the hotel lobby.

Need I say that the dollar was briefly bought in the market as some companies panicked?

The guys in the dealing room watching the coverage of the drama on ANC:

Earthquake hits Manila

During a break at the BNP Paribas workshop in Hong Kong, one of the participants announced that her husband just texted her that a strong earthquake hit Manila.

It did cause panic and people evacuated buildings for safety's sake. There were no reported casualties.

Told Milette that last Nov. 24, I was supposed to join Tina in a Disaster Recovery exercise at PNB's Branch Recovery Center. Looks like the drill was timely ... just in case the earthquake actually disrupted the Head Office's capability to conduct business, the exercise would still be fresh in the minds of the participants.

I wondered how many in the office actually know where the BRC is located. On previous years, since the exercise started, the dealing room's representative had always been me. I've been a convenient choice since I've sat in almost all the desks and I was in the OPICS conversion team. This year though, Tina had to go since I had scheduled packing and making last minute preparations for the Hong Kong trip on the day of the drill.

Joked to Milette that in case the whole of Luzon is affected that even the BRC is not operational, PNB Treasury could actually set up a Business Recovery Center in Hong Kong - she could handle FX Bonds trading and Peso Liquity, I would handle FX spot/swap and Phil. GS trades, and Boss Mon (who is also in Hong Kong - but on vacation, not on a business trip) remains treasury head and directing us what to do. He he he!

Ignoring the bomb blast

Was on the way home Tuesday night when there was a news flash on the TV that a bomb has exploded at the Batasan.

Needless to say, the moment I got home I switched on to ABS-CBN's News Channel (ANC) to watch the coverage and started texting Rey and Boss Dan. I think I got home earlier than they did because they were just tuning in. Stayed with ANC simply because ABC-CBN 2 and GMA 7 went back to regular programming after their news reports.

Rep. J. De Venecia got a lot of airtime... but he probably should've kept his words to a minimum. "Memorable" stuff he said that night:

• There is still no final conclusion to what caused the Makati blast and now the Congress was bombed.

  Way to go JDV... link the two together and cause panic.

• He is not in a state to comment officially about the blast (or something to that effect).

  Then why keep on speaking to the media, telling them your speculations?

Congressman Akbar, the suspected target of the bomb, and two others who were also in the vicinity died that night. Around 14 people were injured. One of those seriously hurt died yesterday.

If market was in a panicky mood, dollar would have been bought yesterday morning. The dollar was actually sold. The rally at the US Stock Market and the dollar inflows ruled. A joke we heard from another trader (another bank) was: had more congressmen died, dollar would have slid down to PHP41.00.

The dollar closed yesterday below the 43.00 level.

Wonder what Binay is feeling now? Before this bomb exploded, he reported getting a number of death threats (last Sunday).