The week ahead

Now that Citicore Renewable Energy [CREC 2.70; unch] has been listed, our market won’t have any scheduled domestic drivers until the BSP’s rate decision on June 27.

> PH:  Wednesday is a non-trading day, and with as “meh” as the market’s been, I suspect that I’ll be getting more than the usual set of out-of-office replies. AREIT’s Q1 dividend pays out on Thursday, while MREIT’s Q1 dividend pays out on Friday.

> International:  The US Federal Reserve will make its June interest rate decision overnight between Wednesday and Thursday.

MB BOTTOM-LINE: Nobody that I’ve talked to expects the Fed to do anything this meeting, and while I’m obviously going to be interested in the meeting minutes and the chatter around the decision and the analysis of the minutes, that’s basically the same position that we’ve been in for a long time already. The US has a very strong jobs market (and it has for quite some time) and the fear there is that strong demand for jobs will push up wages and provide inflationary risk. 

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