THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
DOWNLOAD
View all Reports
Metrobank.com.ph How To Sign Up
Follow us on our platforms.

How may we help you?

TOP SEARCHES
  • Where to put my investments
  • Reports about the pandemic and economy
  • Metrobank
  • Webinars
  • Economy
TRENDING ARTICLES
  • Investing for Beginners: Following your PATH
  • On government debt thresholds: How much is too much?
  • Philippines Stock Market Outlook for 2022
  • No Relief from Deficit Spending Yet

Login

Access Exclusive Content
Login to Wealth Manager
Visit us at metrobank.com.ph How To Sign Up
Access Exclusive Content Login to Wealth Manager
Search
THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
June 19, 2025 DOWNLOAD
View all Reports
Investment Tips 3 MIN READ

Investing in 2024: 3 themes to guide you

Making sense of what’s happening in the markets may not be easy. Our chief markets strategist offers themes to consider when investing in 2024.

February 19, 2024By Anthony O. Alcantara
investment-ss-4

If you’re looking for some guideposts to help you in investing in 2024, you can let these three themes inform your investment decisions.

How to invest in 2024

They include 1) protracted easing cycle for interest rates, 2) improving interest rate differentials that will support the Philippine peso, and 3) the opportunity to lock in long-term yields in bonds.
Ruben Zamora, Metrobank’s chief markets strategist, shared this with select clients recently at a briefing titled “2024 Philippine Market Outlook: Position for the Next Cycle” in one of the metro’s finest hotels.
Protracted easing cycle for interest

“There is going to be a protracted easing cycle for the US Fed and, therefore, the BSP. We think the BSP is going to follow the Fed, so they will wait before the Fed starts to cut rates,” said Zamora.

Metrobank released its inflation update earlier, saying that there is a “strong downward bias” for inflation, and thus the likelihood of rate cuts later in the year.

Improving interest rate differentials

He said Metrobank believes the overnight interest rate differential, which is at 100 basis points (bps) now, could widen temporarily before ending the year back at 100 bps differential by the end of the year as the BSP and the Fed carry out their easing cycle.

“This is because the timing of the cuts will be on two different speeds, where the BSP policy rate may hold their policy rate steady while the Fed cuts theirs. This has historically been good for the peso. What’s also been good for the peso historically is the rate differential between the 10-year Treasury which we think will widen from current levels and the nominal 10-year peso bond rate which remains elevated,” he said.

“That’s supportive of the peso, so by the end of the year, we’re going to be looking at a slightly lower dollar-peso,” Zamora added.

Opportunity to lock in long-term yields

Recently, the Bureau of the Treasury (BTr) launched the Retail Treasury Bonds (RTB) 30 for the funding requirements of the government. It has a five-year tenor with an interest rate of 6.25% per year.

Zamora said this is the perfect time to lock in these higher yields, considering that rates will go down soon.

“The government borrowings, in absolute terms, are tapering, but we do have some potential for that to taper even sooner,” said Zamora.

Some investors may participate in the bond exchange program to take advantage of this. Others may sell the bonds they hold in the secondary market towards the end of the new RTB public offer to maximize accruals.

If you wish to act on these insights and create the ideal investment portfolio, you may reach out to your investment counselor for assistance.

(Bookmark and visit Metrobank Wealth Insights at www.wealthinsights.ph daily for investment insights and ideas. If you are a Metrobank client, please get in touch with your relationship manager or investment specialist for assistance in accessing exclusive content. Not a client yet? Please sign up here so you can begin your wealth journey with us.)

ANTHONY O. ALCANTARA is the editor-in-chief of Wealth Insights. He has over 20 years of experience in corporate communications and has won various communication awards for his work in helping companies and individuals communicate with purpose, clarity, and creativity. He also has a master’s degree in technology management from the University of the Philippines. When not at work, he goes out on epic adventures with his family, practices Aikido, and sings in a church choir.

Read More Articles About:
Worldwide News Philippine News Rates & Bonds Equities Economy Investment Tips Fine Living

You are leaving Metrobank Wealth Insights

Please be aware that the external site policies may differ from our website Terms And Conditions and Privacy Policy. The next site will be opened in a new browser window or tab.

Cancel Proceed
Get in Touch

For inquiries, please call our Metrobank Contact Center at (02) 88-700-700 (domestic toll-free 1-800-1888-5775) or send an e-mail to customercare@metrobank.com.ph

Metrobank is regulated by the Bangko Sentral ng Pilipinas
Website: https://www.bsp.gov.ph

Quick Links
The Gist Webinars Wealth Manager Explainers
Markets
Currencies Rates & Bonds Equities Economy
Wealth
Investment Tips Fine Living Retirement
Portfolio Picks
Bonds Stocks
Others
Contact Us Privacy Statement Terms of Use
© 2025 Metrobank. All rights reserved.

Read this content. Log in or sign up.

​If you are an investor with us, log in first to your Metrobank Wealth Manager account. ​

If you are not yet a client, we can help you by clicking the SIGN UP button. ​

Login Sign Up