How long can the BSP hold off raising interest rates???
Yields of Philippine Treasuries (ROP) have been rising substantially.
And that is not all. The yield curve has been flattening which is indicative of expectations of tightening.
With this, the benchmark index of the Philippine Stock Exchange has become an unfettered haven for end session price fixing.
Daily ‘Pumps and dumps’ and or ‘dumps and pumps’; these are hardly signs of a healthy or normally functioning market.
And related to this, SM Prime’s 17Q reveals how to achieve not only record highs for Sy family owned issues but also to corral the biggest market share of the PSEi 30
SMPH used a total of Php 6.35 billion in 9 months to acquire listed related party shares!
In the 3Q, the company deployed a staggering Php 1.438 billion for related party shares!
Such actions provide, not only an insight of how PSEi 8,127.48 was broken but also the unseen mechanism of how to set records - regardless of valuations and of earnings performances.
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