Weekly Equities Summary and Outlook : July 29 – August 2, 2019

Weekly-Equities-and-Economic-Outlook
Equities Outlook Outlook. Expect the market to follow the correction seen in the global markets. The PSEi is expected to trade somewhere around the 7,700 – 7,900 support, dragged by global headwinds, MSCI rebalancing, and local corporate earnings. Trade war escalation will remain the theme in the global market for the week, although we may find some comfort from a... Read More

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 Fixed Income Summary : July 1 – July 5, 2019

Weekly-Fixed-Income-Summary-and-Outlook
Yields Fall on Short Supply Outlook. Expect local bond yields to remain subdued with appetite still mainly in the short-end, which fell last week by an average of 16bps against the long-end’s 9-bp average decline. Buying interest in the short-end was reflected in the dramatic 50-bp drop of the 91-day bill rate to 3.88% and the slight correction in the... 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