LATEST VIEWS
FMIC-UA&P Capital Markets Research - The Market Call (October 2014)
The Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) surprised the markets with a two-pronged 25 basis points (bps) increase in both the policy rates (Reverse Repurchase Agreements) and Special Deposit Accounts (SDAs) rates. The aggressive move intends to cool inflation expectations, which likely peaked in July-August at 4.9%. Output indicators, like Meralco sales for August and exports for July, fortunately, displayed double-digit gains. However, the tightening could worsen the outlook for H2 as government spending in August decelerated to a 5% gain, while the media reported an unofficial data showing a 50%+ decline in infrastructure spending in July. With the US economy looking more grounded on solid footing causing capital flow into the US financial markets, the peso depreciated to its lowest levels since January this year.
Download: THE MARKET CALL (OCTOBER 2014).PDF
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Philippine Balance of Payments: First Year in the Red Since 2009 -- Is RP Vulnerable To Growing External Risks?

Download: BOP102414.pdf
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PSEi Resilient Amid Jitters & Debt Risk

Download: PSEi Resilient Amid Jitters & Debt Risk.pdf
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Philippine Strategy: PSEi's 7,000 key support breaks down; Accumulate.

Download: Philippine Strategy_101414 (1).pdf
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FMIC-UA&P Capital Markets Research - Is PH Heading Towards an Economic Miracle?

Download: Is PH Heading Towards an Economic Miracle - Dr. Abola.pdf
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FMIC-UA&P Capital Markets Research - Equities Market (Mid-Year Economic Briefing)

Download: Equities Market (Mid-Year Eco Briefing).pdf
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FMIC-UA&P Capital Markets Research - Fixed Income Market (Mid-Year Economic Briefing)

Download: Fixed Income Market (Mid-Year Eco Briefing).pdf
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FMIC-UA&P Capital Markets Research - Capital Markets Issuances (Mid-Year Economic Briefing)

Download: Capital Markets Issuances (Mid-Year Eco Briefing).pdf
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FMIC-UA&P Capital Markets Research - Macroeconomic Outlook for 2014

Download: Macroeconomic Outlook (Jan. 10, 2014).pdf
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FMIC-UA&P Capital Markets Research - Fixed Income Market Outlook for 2014

Download: Fixed Income Market Outlook (Jan. 10, 2014).pdf
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FMIC-UA&P Capital Markets Research - Equities Market Outlook for 2014

Download: Equities Market Outlook (Jan. 10, 2014).pdf
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FMIC-UA&P Capital Markets Research - Capital Market Issuances in 2014

Download: Capital Market Issuances (Jan. 10, 2014).pdf
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FMIC-UA&P Capital Markets Research Alliance - Macroeconomic Forecasts for 2013 (As of July 24)

Download: FMIC-UA&P Capital Markets Research - Macroeconomic Forecasts (As of July 24).pdf
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FMIC-UA&P Capital Markets Research Alliance - Corporate Debt Market and Growth Industry Outlook for 2013 (As of July 24)

Download: FMIC-UA&P Capital Markets Research - Corporate Debt Market and Industry Growth Outlook (As of July 24) .pdf
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FMIC-UA&P Capital Markets Research Alliance - Fixed Income Market Outlook for 2013 (As of July 24)

Download: FMIC-UA&P Capital Markets Research - Fixed Income Market Outlook (As of July 24).pdf
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FMIC-UA&P Capital Markets Research Alliance - Equities Market Outlook for 2013 (As of July 24)

Download: FMIC-UA&P Capital Markets Research - Equities Market Outlook (As of July 24).pdf
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First Metro introduces collegiate competition for Bond Trading 8/20/2014
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First Metro ends the 1H of 2014 with P1.64 billion income 8/14/2014
First Metro Investment Corporation realized consolidated net income of P1.64 billion at the end of the first half of 2014. While this is 76 % lower than the P6.76 billion income in the same period last year, it exceeds the company’s first half target by 24%. Return on equity is healthy at 15.53%. Read More
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