2017 Budget Deficit of 2.2% of GDP Vs 3% Target: Missing a Strong Fiscal Stimulus
Despite strong assurances of fiscal expenditures, where’s the fiscal impulse? The 2017 national government’s budget deficit stood at Php350.6bn or...
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Corporate Earnings in Sync With Services GDP?
Market watchers will once again attempt to mine 4Q17 corporate earnings that’s currently unraveling, for the financial ‘uppers and downers’ while...
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Rate Corridor Intact Despite Inflation's Surge
Making sense of it allAfter keeping its interest rate corridor intact with the overnight RRP, deposit and lending rates unchanged in the recent...
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Week Ahead in Global Macro: Inflation (US, UK, Oil Reports, India), Japan/EU GDP, Lunar New Year
Our guide to this week’s global macro risk events and trading opportunities. This week in trade ideas, we maintain short positions on US stocks...
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Concentration Risk Behind Jan CPI's Upside Surprise
Concentration risk in Jan CPIInflation in Jan settled at 4%YoY to match the top end of BSP’s annual target range of 2%-4%. Owing to TRAIN’s tax...
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