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• China's reopening has a huge positive impact on global markets and expresses a more business friendly tone
  
• The pandemic-induced supply chain shortages appear to be improving
  
• The market is poised to improve, provided there are no energy price spikes, Ukraine-Russia conflict does not escalate, and oil supply chains remain strong
  
• The bigger part of the rate hikes appear to be behind rather than ahead of us
• Liquid assets (i.e., cash and cash equivalents, money market funds, T-bills, time deposits, among others) have a return for the first time in a decade
   

How These Affect Your Investments/Savings

• For Bonds. Given the stabilization in interest rates, we see better opportunities for bond funds
• For Equities. Global equities will stabilize once the Fed stops raising rates. Tech is already rebounding as tech stock investors anticipate lower rates moving forward. Volatility will remain
• On the Banking Turmoil. The extraordinary interventions of central banks restored confidence and averted a global financial/ banking crisis. Local banks and financial institutions here are sound and stable, with no problems that the US regional banks or Credit Suisse faced

What You Should Do

• Consider cash and cash alternatives. SLAMCI's money market funds, including Peso Starter Fund and Dollar Starter Fund, can potentially do better than savings accounts
  
• Consider SLAMCI's Peso Bond Fund outlook. Bond Funds will benefit from inflation and rates going down, which will lead to potential price appreciation
• Expect volatility in equities. Our Sun Life PSEi 2023 target is 7,850 but this comes with risk

_{Source: Andrew Gan, Managing Director - Beacon Holdings Inc.}