Weekly Equities Summary and Outlook : May 6 – May 10, 2019

Equities Outlook Outlook. We might see the index firm up around the 7,600 support. This support sits close to the index’s two standard deviation below the 5-Yr mean (-2SD) of 16x or 7,545 index level. Long term outlook remains robust as corporates manage to report earnings in line with expectation. Also the weaker than expected GDP and the expectation of... Read More

FAMI goes to Region 3

First Metro Asset Management Inc. (FAMI)’s FVP, Head of Special Markets and Training Dr. Edwin B. Valeroso and Senior Relationship Manager Rienzie Biolena conducted a finance course designed for school treasurers, finance officers, and other school personnel understand their financial responsibilities. The forum held at Angeles University Foundation Sports and Cultural Center Angeles City, Pampanga last April 29, 2019 was... Read More

Weekly Equities Summary and Outlook : April 29 – May 3, 2019

Equities Outlook Outlook. Expect some profit taking on rally this week which may bring the PSE to 7,800-7,900. Philippine April inflation came in at 3.0%, lower than the median forecast of 3.1%. We believe that despite the easing inflation, this will be offset by weakness in 1Q19 Philippine GDP and heightened volatility brought by Trump’s tough stance on tariff against... Read More

The Market Call | April 2019

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Macroeconomy Elevated NG spending on infrastructure projects, coupled with the spill-over effects of the election should keep growth momentum in Q1 steady. Moreover, the downtrend in inflation print augurs well for higher consumer spending and leads us to expect cuts in reserve ratio requirement (RRR) in Q2. The peso’s recent gains should prove temporary given the huge trade imbalance and... Read More

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

Equities Outlook Outlook. Standard & Poor’s (S&P) raised the Philippines sovereign credit rating from BBB to BBB+ with stable outlook. Thus, PSEi may rally and easily break above 8,000 on account of the credit rating. The market will also take its cue from the April inflation print and earnings results this week from Metro Pacific Investment Corp., Integrated Micro-Electronics, Inc.,... Read More

Weekly Fixed Income Summary : April 15 – April 19, 2019

Yields Rise Ahead of Panda Bonds Outlook. The market is anticipating the issuance of $200-$500mn panda bonds towards the end of this month, which explains the slight uptick in yields last week. Recall that $230mn worth of panda bonds were also issued in March last year. The government is looking at tenors of three to five years as yields followed... Read More