For Equities, The PSEi declined 0.58% WoW to 7,835.2 over a three-day trading week, dragged partly by consumer stocks. PGOLD was the worst performer in the PSEi (-6.9%) on follow through selling after disclosing disappointing 4Q18 results and guiding for weak 1H19 SSSG. Meanwhile in Fixed Income, Local bond yields traded sideways with some sellers reducing position ahead of the Lenten break. UST Treasuries were initially muted following disappointing quarterly earnings results. USTs then sold-off after Empire manufacturing printed stronger at 10.1 versus 8.0 expectations.

For Equities, The PSEi rose 0.10% WoW to 7,880.8 during a four-day trading week as investors seemed to be unfazed by the IMF’s downgrade of world GDP growth. The IMF reduced its 2019 global GDP growth forecast to 3.3% from 3.5%, previously due to lower growth in the US and EU. Meanwhile in Fixed Income, Local bond yields traded sideways with relatively low volume during the shortened week. The BTR fully awarded the 10-yr re-issued bond with an average yield of 5.954%.

For Equities, the PSEi declined 0.60% WoW to 7,873.18 as the World Bank reduced its GDP growth forecast for the Philippines. Meanwhile in Fixed Income, Local bond market traded lightly at the start of the week with some players looking to take profit after 3 weeks of rally.