Global investment bank sees Robredo as more 'market-friendly' president than Marcos Jr.

MANILA, Philippines — Vice President Leni Robredo will likely be a more "market-friendly" president than Ferdinand “Bongbong” Marcos, Jr., a Japan-based global investment bank said in its monthly report.

In an article entitled "Philippines: No holiday cheer," Nomura Global Research said that Robredo is “likely seen” more qualified to oversee the post-pandemic recovery of the country, citing the presidential candidate’s strategic roadmap that focuses on vital sectors, such as health and education.

"Marcos Jr., in our view, will likely be regarded as less market-friendly than Robredo, particularly when it comes to experience at the national level and in articulating a strategy for the country to recover from the pandemic," the report, which was written by ASEAN economist Euben Paracuelles and analysts Rangga Cipta, Craig Chan, and Wee Choon Teo, read.

The group also believed that Marcos' possible victory might cast doubt on the 2022 elections.

"A Marcos victory will likely be viewed negatively owing to perceptions against him, in part because his candidacy is facing some petitions for disqualification on grounds of making false statements and a previous conviction of failing to file income tax returns," the report said.

Marcos is facing multiple disqualification cases in connection with a 1995 Quezon City Regional Trial Court’s conviction for his failure to file income tax returns for four years in the 1980s.

Almost perfect score for Robredo-Pangilinan

Nomura also gave the presidential and vice-presidential tandems scores based on five categories: Continuity/good governance, Infrastructure progress, Fiscal discipline, National experience, and Business friendliness.

Robredo and Sen. Francis "Kiko" Pangilinan got a score of five in national experience and business friendliness categories. In terms of continuity/good governance, infrastructure progress, and fiscal discipline, the duo tallied four out of five points.

Meanwhile, Marcos and Davao City Mayor Sara Duterte scored four in infrastructure progress and three in fiscal discipline and continuity/good governance.

However, the two were rated between one to zero based on national experience, and zero in business friendliness.

"Political uncertainty will also likely grow, considering Ferdinand Marcos Jr’s large poll lead over VP Leni Robredo. This will likely weigh on local market sentiment and presents a challenging environment for the Philippines’ net portfolio investment flows," the report added.

In the latest Pulse Asia survey conducted from December 6 to 11, Marcos led the presidential poll with 53% saying they would vote for him if elections were held during the survey period. Robredo placed second with 20%.

Meanwhile, Duterte topped the vice presidential survey will 45%, followed by Senate President Vicente "Tito" Sotto III.