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Stock Commentary

A quick look at the week ahead

Merkado Barkada
A quick look at the week ahead

The SEC approved the Villar Family’s newest IPO, Premiere Island Power REIT [PREIT 2.00 pre-PSE], but the PSE hasn’t approved the IPO yet so the tentative dates on the PREIT schedule of events are probably going to slip.

PREIT was supposed to announce its final price tomorrow, and begin sale on Friday, but that’s an exceptionally tight timeline considering it just received SEC approval a few days ago.

It’s on the calendar, but I’m not expecting it to happen as shown. Other than that, we have the RL Commercial REIT [RCR 5.3 1.4%] dividend record date tomorrow, and the record date for the MREIT [MREIT 11.9 0.2%] Q3 dividend on Friday.

MB BOTTOM-LINE

External conditions do feel like they’re improving, and this is mixing with the relatively positive Q3 results of our domestic companies to create something that aaaaaallllmost feels like a positive outlook.

It’s been a while since the market has had much hope, so I will be watching closely for more signals that the recovery is real.

One huge bucket of cold water on that is the news that the bond curve for the 10Y inverted (yields are higher for bonds that mature in 2 years than they are for bonds that mature in 10 years), which has been a fairly consistent leading indicator for a recession to occur within 6 months of that inversion.

A sharp and quick recession might not matter a great deal in the long run, but anything significant could have a negative impact on remittances, BPO, and tourism.

It’s worth watching.

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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.

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