Weekly Equities Summary and Outlook : July 1 – July 5, 2019

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Equities Outlook Outlook. This week, we expect the resistance of 8,100 to hold, meaning PSEi will again struggle to break above it as the market recently sold on news of the June inflation beat and ahead of Fed’s Powell Congressional appearance amid the US markets’ correction after hitting new all-time highs. US and Philippine second quarter earnings results are coming... Read More

Weekly Fixed Income Summary : June 17 – June 21, 2019

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Easing Ahead Outlook. Lower inflation expectations make rate cuts more likely in the near future. Both the Fed and the Bangko Sentral ng Pilipinas (BSP) kept policy rates steady during their meetings last week, which was expected though the former sounded more dovish. The market expected the Fed to give strong signals towards monetary easing, which reflected on the rate... Read More

Weekly Equities Summary and Outlook : June 17 – June 21, 2019

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Equities Outlook Outlook. We expect the market to remain steady around the 7,900-8,000 range in the absence of catalysts. All eyes are on the G-20 summit where the market expects no trade deal between US and China. Without any clear direction or indication of a deal between US and China, overhang is expected to remain which will keep the index... Read More

Weekly Equities Summary and Outlook : June 3 – June 7, 2019

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Equities Outlook Outlook. The market will likely hold steady at the 8,000-level this week even with the escalation of the trade war and ensuing likely preponderance of weak global economic data reminding investors of the slowdown in both developed and emerging markets. We believe that the pending policy stimulus in the US such as an early US Fed rate cut... Read More

The Market Call | May 2019

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Macroeconomy The expected ramp-up in infrastructure and other NG expenditures should facilitate a rebound in Q2. Softer upticks in prices of key commodities, likewise, will provide extra boost. We think that the downtrend in headline inflation and cuts in the BSP policy rates and RRR will encourage higher investment and consumer spending starting Q2. Impact of El Niño on Q2-2019... Read More

Weekly Fixed Income Summary : May 27 – May 31, 2019

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Further Easing Ahead Outlook. Bangko Sentral (BSP) governor Benjamin Diokno promised for more policy rate and reserve requirement (RRR) cuts in the future, but the timing will depend on economic data. Diokno expects inflation to ease below 2% on base effect as soon as this quarter, while he expects GDP will to reach at least 6% again now that the... Read More

Weekly Equities Summary and Outlook : May 27 – May 31, 2019

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Equities Outlook Outlook. After retesting the index’s resistance of 8,200 yesterday, we expect some profit taking in the market as some names have charted new 52wk high. Also shortened trading week this week (Eid’l Fitr) and next week (Independence Day) may prompt some investors to take profits. We expect that May inflation figure (June 5, 2019) coupled with anticipation of... Read More