Tuesday, September 26, 2006

market moving

there are stories that shake the markets and cause a ripple of reaction among market players - these are called market-moving stories.
since working in the banking and finance beat about two years ago, it's been a dire wish to be able to come up with a market-shaking story.
i remember i did one about a year ago, of the government selling euro bonds. it turned out to be a dud, but it moved bond prices nonetheless.
but yesterday, i think i did one and hit it right on the head. it was a slow day for us in the beat, no new news were coming. it happened that i thought of asking central bank governor tetangco of how soon he thinks the philippines may get a rating upgrade.
the good governor responded it may happen in 6 months. i shared the information with bloomberg.
i did the story for my newspaper today and had no idea of its impact until i surfed the net and saw that reuters picked up the story.
later, karen, a comrade in the beat who's with reuters, called me up to inquire if the story in the paper was mine. i said yes but that it didn't have a byline.
then she burst into a commendation for a good job done. a what? i was clueless and was not really interested to heap praises on myself.
the reuters story was updated and said that share prices closed higher because of the central bank chief's comments.
in my phone conversation with kler (of bloomberg)later, she said reuters tried to catch up with the story (i pretended i haven't seen it).
so, what that makes of me? i guess nothing, just the feeling that i have broken through a fervent wish. i'm happy, yes i am, that's why this blog note.
but i know that as with every other journalist, i'm as good as my last story.
the good governor has certainly done me a favor and this shall not go unnoticed.

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