Overseas news
US stocks closed slightly higher on Monday as investors didn’t make significant moves after US President Donald Trump’s latest tariff announcements.
Investors are also likely to hold steady ahead of a busy week of economic data and the start of the earnings season. Such reports can affect the confidence of investors who may use the data to make their decisions.
Meanwhile, Bitcoin surpassed $120,000 for the 1st time ever on Monday, the latest milestone for the world’s largest cryptocurrency.
Investors expect to see Congressional support for laws that may benefit the cryptocurrency market this week, which has been dubbed “crypto week” by US Republicans.
Local developments
The Philippine government increased its award of Treasury bills offered on Monday as yields went down across all short-term debt issuances.
This happened amid a strong demand for shorter-dated securities due to the uncertainty caused by the Trump administration’s changing trade policies.
Meanwhile, the Philippine Stock Exchange (PSE) saw a 25% increase in its net profit for the 1st half of the year, reaching P495.7 million from P398 million in the same period last year.
The increase in revenue is mainly attributed to PSE’s takeover of the Philippine Dealing System Holdings Corp. (PDS), which brought in earnings from transaction fees charged by its subsidiaries.
PDS owns the Philippine Dealing and Exchange Corp. (PDEX) which operates a market for fixed-income securities like government and corporate bonds.
Additionally, the average farmgate price of palay (unmilled rice) fell 31.8% year-on-year in June to reach an average of P16.99 per kilo, marking a 4.3% month-on-month decrease.
"Farmgate price" is the price received by farmers for the sale of their produce. Changes in such prices can end up affecting consumers and the inflation rate.
A wait-and-see attitude is popular among investors and so you might also want to remain cautious for now. Maintaining your strategy might be the best move as you wait for more concrete developments.
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