Today is the 146th day of 2025. We’re 84% of the way through May (almost done), and we’re 62% of the way through Q2. The PSEi is feeling heeeavy these days, with some analysts (like Jonathan Ravelas) calling for a “retest of 6,000 levels” [link]. He wasn’t wrong the last time he said something similar.
> PH: This is an oddly empty week for us, but it’s going to be important because it’s the last full week of trading before the following week is cut short by the Eid holiday that was just announced on June 6. Lots of stockholders meetings this week, capped off by the payments of RCR’s Q1 dividend and DDMPR’s Q4 dividend on Friday.
> International: The US markets are closed on Monday for Memorial Day, then on Friday morning we’ll see how the US Q1 GDP number gets revised (if at all). Remember that it came in at -0.3%. The Fed doesn’t meet for a while (June 19, same day as the BSP), but analysts are saying the bond markets are “screaming” for some type of intervention. Oh, and I guess there’s getting ready for those 50% EU tariffs that Trump just announced [link] that could kick in on June 1?
MB BOTTOM-LINE: Don’t look now, but Bitcoin is trading at/near its all-time high, and gold is starting to rev back up again. My financial twitter feed was filled with “JAPAN IS THE FIRST DOMINO TO FALL” type posts about Japan’s massive bond yield problem, but all those posts feel like they’ve been turnt up to 11 for a few days and nothing’s happened (yet). What’s happening there? I’m not an expert on Japan or what it’s going through, but I found this article informative and easy to understand [link]. Kampai!
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