Stocks up again on hopes of slower rate hikes

The main index added 20.19 points or 0.31 percent to close at 6,530.51 as Banks led the advance although the Industrial and Property counters retreated. Volume was relatively stable at 664 million shares worth P5.89 billion as losers beat gainers 94 to 87 wiyh 49 unchanged.

In line with this, he noted that, “treasury yields ticked lower, with the benchmark 10-year Treasury yield trading at around 3.696 percent, or about 6bps lower. The yield on the 2-year Treasury was down 3.4bps at 4.483 percent.”

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Oil prices climb on big drop in U.S. crude stocks, Russia supply uncertaintyOil prices rose in early trade after industry data showed U.S. crude stockpiles fell more sharply than expected last week, highlighting supply tightness ahead of a looming European Union ban and G7 price cap on Russian oil. | Reuters
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