The Market Call | May 2018

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Macroeconomy Led by strong investment spending of both the public and private sectors, Gross Domestic Product (GDP) got back into a faster growth track with a 6.8% uptick in Q1, up from 6.5% in both Q1 and Q4-2017, equaling China’s performance and next only to Vietnam in East Asia. Robust domestic demand and production should drive the PH economy to... Read More

The Market Call | April 2018

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Macroeconomy The remarkable job creation reported January, NG’s commitment to continue spending on various Build Build Build projects, strong capital goods imports and other economic indicators pointing to a healthy growth, reinforce our view that PH will register a faster expansion in 2018. Fixed-Income Market With US Treasuries appearing to be range-bound, investors are more focused on domestic drivers of... Read More

The Market Call | March 2018

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Macroeconomy Superb annual job growth to January 2018, record $10 B FDIs, and strong finish for infrastructure in 2017 all point to an acceleration in the growth path. Significant upticks in the manufacturing sector and capital goods imports in January add to our optimism of above-7% GDP growth in Q1-2018. Fixed-Income Market TUS bond market correction in early March provided... Read More

The Market Call – February 2018

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Executive Summary Foreign direct investments (FDI) into the country streaked to a record-high of $8.7-B YTD in November even as domestic investors and government infrastructure spending drove Gross Domestic Product (GDP) to a 6.7% full-year growth in 2017. These translated into a 16.1% surge in capital goods imports in November. As added booster, exports posted slightly positive gains, while Overseas... Read More