Sunday Roast: Markets & Merriment

Jonathan Ravelas —CONTRIBUTED

[Q&A with Jonathan Ravelas, veteran economist and senior adviser at Reyes, Tacandong & Co.]

As 2026 dawns, investors are weighing optimism against caution. Global markets are recalibrating after a volatile 2025, while holiday tables are being set with equal care. We sat down with Jonathan Ravelas, economic adviser and market watcher, to talk about what’s cooking in the financial world—and in his kitchen.

Where do we find you this weekend?

At home, reviewing my 2026 market notes with a cup of single-origin coffee. Later, I’ll head to Salcedo Market in Makati for festive treats—it’s my go-to for artisanal bread and local produce.

What’s for breakfast?

Pan de sal with kesong puti and a drizzle of wild honey. It’s simple, Filipino and pairs well with a strong brew.

Your preferred Sunday soundtrack?

Something upbeat but mellow—”Khruangbin” or a little “Bossa Nova.” It sets the tone for both reflection and celebration.

What’s on your radar for 2026 markets?

Three big themes:

• Interest rates: Expect a gradual easing cycle as inflation cools globally, but central banks will tread carefully.

• Emerging markets: Association of Southeast Asian Nations (Asean) could shine, especially the Philippines, with infrastructure spending and digital adoption driving growth.

• Geopolitics: Watch US-China trade dynamics and Middle East tensions—they’ll shape commodity prices and investor sentiment.

Any festive-season investment tip?

Don’t overspend on short-term trends. Think of your portfolio like a holiday menu: balance indulgence (growth stocks) with staples (bonds, cash). And yes, avoid “too much sugar”—speculative bets can give you a headache in January.

What’s on your menu today?

Roast pork belly with crispy skin—a Filipino lechon twist—and a side of roasted root vegetables. Dessert? Bibingka and tsokolate for that nostalgic holiday feel.