Your Morning Fix

• US non-manufacturing purchasing managers’ index, an indicator for the demand in the services sector which accounts for two-thirds of the US economy, climbed to a two-year high of 56.0 in October from the 54.9 reading the previous month and above the 53.8 forecast, according to a poll conducted by Reuters.
• China’s services purchasing managers’ index expanded to 52.0 in October, its fastest pace in three months, from 50.3 the previous month as Beijing’s stimulus package takes effect. A PMI reading above 50 indicates growth in the services sector.
• Bond investors are keeping a defensive but neutral stance in managing portfolios as the US presidential election overshadows policy rate cut expectations at the US Fed’s next meeting.
• The Philippine’s headline inflation accelerated to 2.3% year-on-year in October from 1.9% in the previous month and 4.9% in the same period last year, bringing the year-to-date inflation to 3.3%.
• The Philippine Stock Exchange index (PSEi) rebounded to the 7,200-level on Tuesday, rising 1.7% points to close at 7257.94 after finishing at 7,136.10 on Monday amid October inflation remaining within the 2-4% target.