Weekly Fixed Income Summary : July 22 – July 26, 2019

Weekly-Fixed-Income-Summary-and-Outlook
Rate Cuts Priced In Outlook. Expect local bond yields to remain rangebound as the local and international market have largely priced in the Fed cut this week. We don’t think US President Trump’s comments (“will only do little”) on the possible 25bps cut will change the Fed’s course. But the Fed’s move will reinforce China and E.U’s further lowering interest... Read More

Weekly Equities Summary and Outlook : July 22 – July 26, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. The likely Fed rate cut and corporate earnings are expected to support the market this week at 8,100 but we recommend a hold on buying ahead of MSCI semiannual index review next week, August 8. Key economic data are scheduled to be released for 1H19 like inflation and GDP, unless there are positive surprises from these releases,... Read More

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

Weekly-Equities-and-Economic-Outlook
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

Weekly-Fixed-Income-Summary-and-Outlook
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

Weekly-Equities-and-Economic-Outlook
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