Weekly Equities Summary and Outlook : June 04 – 08, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Outlook. We expect the market to continue trading within 7,500-7,800 amidst shortened trading week due to observance of holidays. Additionally, investors remain on the sidelines waiting for signals from the upcoming US Federal policy meeting. The European Central Bank and Bank of Japan are also scheduled to meet this week. There’s downward bias as the peso... Read More

Weekly Fixed Income Summary : May 28 – June 01, 2018

Weekly-Fixed-Income-Summary-and-Outlook
Rangebound on Higher Inflation Expectation Outlook. We expect the bond market to sell amid the inflation news that portend of higher interest rates, keeping the yield curve firm to elevated this week. This is amid the release of May inflation number at the low end of the BSP inflation forecast band of 4.6% – 5.4%. May headline inflation spiked to... Read More

Weekly Equities Summary and Outlook : May 28 – June 01, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Outlook. We expect the market to trade between 7,500-7,700, with a downward bias as the market awaits May inflation data which is expected to hit a fresh new high, coupled with lingering concerns that US tariffs on its key allies could reignite a trade war. Nonetheless, we expect the market’s strong support to hold at 7,500.... Read More

Weekly Fixed Income Summary : May 21 – 25, 2018

Weekly-Fixed-Income-Summary-and-Outlook
Rally on Dovish Fed, Flush Liquidity Outlook. We expect bond yields to trade sideways amid flush liquidity after the Bangko Sentral (BSP) cut the reserve requirement again by 1% to 18%, releasing an estimated Php90bn into the system. FXTN 05-72 also matured last week (Wednesday), adding another Php130bn. The cut was a move widely seen to keep domestic interest rates... Read More

Weekly Equities Summary and Outlook : May 21 – 25, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Outlook. We expect the market to trade sideways especially during the start of the week as thin trading continues. US and UK markets are closed on Monday while several ASEAN markets – Singapore, Malaysia, Indonesia and Thailand are closed on Tuesday for Vesak holiday. Investors are still waiting for market moving events that will push the... Read More

Weekly Equities Summary and Outlook : May 14 – 18, 2018

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. We expect the PSEi to consolidate around 7,500-7,800 due to lack of catalysts. Foreign outflows may persist in the near-term as passive funds flow to China with the inclusion of China A shares in the MSCI Emerging Markets (EM) index beginning June 1. First quarter earnings results of 9% growth was behind full year consensus of 13%... Read More

Weekly Equities Summary and Outlook : May 7 – 11, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the market to trade sideways to upward as investors’ concerns ease after the central bank’s move to raise rates. Last Friday, we also saw net foreign buying of Php571mn, the highest since January 17, 2018 which could signal foreign funds are coming back. Yesterday, foreigners were still net buyers with a total... Read More