jc.gutierrez

[The Kobeissi Letter @KobeissiLetter]

SUMMARY OF FED CHAIR WARSH'S STATEMENT:

1. The US economy is showing "impressive resilience"

2. Inflation "remains elevated" relative to the Fed's 2% target

3. The policy statement displays "just the facts" and "steers clear" of guidance

4. There is no soft inflation target, the only target is 2%

5. Fed notes nominal and real yields are materially higher since last Fed meeting

6. Market participants are "learning to play the ball, not the referee"

Once again, the Fed has declined to provide guidance.

[Bilyonaryo @bilyonaryo_ph]

The Department of Energy plans to revise bidding rules for upcoming coal auctions to require prospective developers to prioritize domestic supply over exports, Energy Secretary Sharon Garin said, citing shifts in Indonesia's coal export policies.

Read it here: https://t.co/ni2lomzWnj

[Bilyonaryo @bilyonaryo_ph]

FIRST ON B: Who can stop Indonesian billionaire Prajogo Pangestu from taking control of one of the Philippines’ biggest renewable energy companies?

Not Ramon S. Ang or Aboitiz Power, according to Wall Street investment bank JPMorgan.

Instead, the bank sees only Enrique “Ricky” Razon Jr.’s Prime Infrastructure and Manuel “Manny” V. Pangilinan’s Meralco as the “potential contending bidders” among Philippine generation companies.

READ: https://t.co/Wykn2EgBLT

[*Walter Bloomberg @DeItaone]

RATE HIKE BETS HOLD FIRM

Fed Chair Kevin Warsh declined to say whether the Fed will raise interest rates at its next meeting, stressing policymakers will wait for more data.

Meanwhile, market expectations remain elevated, with Kalshi pricing a 68% chance of a Fed rate hike before July 2027 and a 53% chance before the end of 2026.
https://t.co/uymdr0GdV6

[Merkado Barkada @MerkadoBarkada]

Name: MYNT, INC.
Ticker: GCASH
Price: P10.00/sh
Float: 12%
Stab fund? Yes
Selling shareholders: Everybody (j/k) iykyk
% primary: 17%

When it rains, it pours! Second IPO filing this week. Let’s dig in!

MB IPO 🧵

[The Kobeissi Letter @KobeissiLetter]

SUMMARY OF FED DECISION (6/17/2026):

1. Fed leaves rates unchanged for the 4th straight meeting

2. 9 out of 18 officials expect at least one rate hike this year

3. Fed lowers its median 2026 US GDP projection from 2.4% to 2.2%

4. Fed now sees PCE inflation not returning to its 2% target until 2028

5. Fed says inflation "remains elevated" relative to their goal

6. Today's Fed decision was reached in a unanimous 12-0 vote

The Fed appears to be bracing for more inflation.

[jc.gutierrez @JC6495]

😱

[Exencial Research Partners @exencial_RP]

UBS on copper

We reiterate our market deficit estimate of 520,000 mt for 2026. Against this backdrop, we prefer to maintain a long position in copper and would look to add on price pullbacks.

[The Kobeissi Letter @KobeissiLetter]

Our 5th warning:

The bond market crisis is intensifying.

The US 10Y Note Yield is now officially above 4.55% for the first time since May 2025.

After weeks of euphoria, the market is beginning to react today.

As we have been stating for the last few weeks, the current situation in the bond market is unsustainable.

We are now above levels seen when President Trump implemented a "90-day tariff pause" in April 2025 due to a collapsing bond market.

Furthermore, the market now sees a 60%+ chance that the Fed's next move is an interest rate HIKE, with rate cuts entirely priced-out.

We expect to see 7%+ mortgages next, all as auto loan delinquencies have reached 32-year highs.

Inflation is back and higher rates are coming.

[Miguel R. Camus @miguelrcamus]

INSIDER INFO | Hungry whale gobbles up shares of Citicore Renewable Energy
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One of the biggest institutional investors in the market has been spotted taking sizable bites of the renewable energy firm backed by tycoon Edgar Saavedra.

READ: https://t.co/eSF8TPHAri

[Miguel R. Camus @miguelrcamus]

Apex Mining pushes $300-M expansion amid gold windfall, Q1 profit surge

READ: https://t.co/Ok6EAEt11m

[The Kobeissi Letter @KobeissiLetter]

BREAKING: Copper prices have surged to a record $6.58 per pound, now up +75% since October 2023 and over +40% in 12 months.

The surge comes amid tight supply, declining inventories in China, and surging demand for data center construction.

Furthermore, supply disruptions at the world's 2nd-largest copper mine in Indonesia are adding to the pressure.

Meanwhile, China's exports jumped +14% YoY in April, led by booming clean-tech shipments, components that are materially copper-intensive, tightening the market even further.

The global economy is scrambling for copper.

[The Kobeissi Letter @KobeissiLetter]

While April CPI inflation rose to 3.8%, inflation is much higher in many basic necessities:

1. Energy Commodity Inflation: +29.2%
2. Gasoline Inflation: +28.4%
3. Airfare Inflation: +20.7%
4. Energy Inflation: +17.9%
5. Electricity Inflation: +6.1%
6. Fruits and Vegetables Inflation: +6.1%
7. Hospital Services Inflation: +5.5%
8. Motor Vehicle Repair Inflation: +5.1%
9. Apparel Inflation: +4.2%

This has driven cumulative inflation since 2020 to +29%, meaning goods that cost $100 in 2020 now cost $129 today.

Inflation remains a major issue for Americans.

[Bilyonaryo @bilyonaryo_ph]

Razon’s Prime CoreGen to bid DOE mid-merit gas auctions

Prime CoreGen, a unit of ultra bilyonaryo Enrique K. Razon Jr.’s Prime Infrastructure Capital Inc., plans to bid in the government’s upcoming mid-merit natural gas capacity auctions, as the country moves to stabilize a grid increasingly reliant on intermittent renewable energy.

READ FULL STORY: https://t.co/YvVpaArYRa

[Bilyonaryo @bilyonaryo_ph]

ACEN Corp. and its joint venture partner have reached financial close and secured a 30-year supply deal with mining giant Rio Tinto to commence construction of the Jinbi solar project in Western Australia.

Read more: https://t.co/DgPs68Gfjt

[Bloomberg @business]

The Philippine peso is likely to sink to new lows against the dollar as the country’s outsized vulnerability to high energy costs offsets expected interest rate hikes, analysts said https://t.co/QlVBhmdySv

[Bilyonaryo @bilyonaryo_ph]

Nickel giants unite: Indonesia, Philippines team up to boost EV supply chain

Indonesia and the Philippines signed a memorandum of understanding to synchronize their nickel industries, a move designed to cement Southeast Asia’s dominance in the global electric vehicle (EV) and stainless steel supply chains.

READ: https://t.co/dp9WkalFbL

[Bilyonaryo @bilyonaryo_ph]

Monde Nissin Corp., led by bilyonaryo Betty Ang, is expanding its domestic manufacturing footprint with a new biscuit plant in Central Luzon even as it trims spending plans amid geopolitical uncertainty.

Read more: https://t.co/14tMC9NH1Q

[Arjay@BWorld 🇵🇭 @Arjay_BWorld]

Nickel Asia’s Emerging Power, Aboitiz Renewables, and Filinvest’s FDC Utilities are eyeing the privatization of the 74.8-MW Bakun Hydroelectric Power Plant in Ilocos Sur, according to PSALM. @bworldph [Photo via PSALM]

[InsiderPH @InsiderPHdotcom]

Maynilad set for PSEi entry as Converge, ACEN, DigiPlus battle to stay
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The Philippines’ benchmark stock index is heading for its next reshuffle in August, with Maynilad Water Services Inc. (MYNLD) emerging as a near-certain entrant while three listed firms face a tight fight to avoid being dropped.

READ: https://t.co/hG1d7AtZx9