Granular lockdown strategy inspiring market to flirt with 7,000

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The local stock barometer is seen to test the 7,000 barrier this week as investors look forward to granular lockdowns in lieu of metro-wide restrictions while continuing to ride on the US Federal Reserve’s dovish monetary policy stance.

At the same time, he said the stock market would continue to draw strength from the US Fed’s seeming bias to maintain an easy monetary policy.

The slower-than-expected US jobs growth cast doubts on the Fed’s timeline to taper its monetary stimulus via bond buying operations. It was previously signaled that the Fed wasn’t in a hurry to raise its key interest rates but it could taper bond buying operations within this year. Sustained “risk-on” sentiment from Wall Street has boosted local sentiment on selected blue chips, particularly telecom stocks, added Jonathan Ravelas, BDO chief strategist.

 

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