In This Issue:
  • Letter from the Co-CEO: Happy Birthday, Phillip Capital! by Lynette Lim
  • The Markets Corner: Vaccines by Filippo Lecchini
  • Chart View: Value Areas in the New Norm by Jeff Gilfillan
  • Exchange updates from CME, Eurex, SGX, and The Small Exchange
LETTER FROM THE CO-CEO
by
Lynette Lim
Happy Birthday, Phillip Capital!

Dear Friends,

Phillip Capital Inc. is ten years old.

In the year when the entire world paused for a virus, the PhillipCapital Group (the financial group in which we operate) celebrates 45 years in this business, and Phillip Capital Inc. (that’s us) celebrates ten years in the U.S.! Yes, we are ten years old, and what a whirlwind journey it has been!

When I was 12, my mom, with a mischievous glint in her eye, hosted a joint birthday party for me and my youngest brother, who was also born in March and had just turned 1. My mother gave specific instructions to the baker to make a number 12, with each number as a separate cake.  My mother was proud of her ingenuity: I could blow out my candles with the two cakes together forming the 12, then she would remove one of the cakes, and voilà, my brother could now blow out his “1” candle! In Chinese, the saying is 好事成双 – “good things come in pairs” - so why celebrate only one birthday when you can celebrate two? (Plus, there’s the added bonus of only using one cake!)

So once again I am celebrating two birthdays: the birthday of the PhilipCapital Group as well as Phillip Capital Inc.’s U.S. office. 好事成双 - good things come in pairs indeed.
The Markets Corner: Vaccines
by Filippo Lecchini

The COVID-19 pandemic made the need for a vaccine a daily conversation topic pretty much everywhere. We still don’t know if the solution we all are hoping for is more like a full vaccine, for example the measles vaccine, or like a flu shot that needs constant updating as the strains change and evolve year after year. The former would result in immunity, but the latter would mean that the threat would keep lurking until the virus evolves to a point where it is no longer deadly for most people. Without understanding how deadly it is now, it’s actually very hard to determine how much we really know and have learned so far.
Chart View: Value Areas in the New Norm
by Jeff Gilfillan

In previous posts, I discussed the wild swings on the charts and the markets that have begun building new value zones following the COVID-19 outbreak. What is becoming clear is that, at least for the intermediate future, many of the influences behind these moves into new value zones may not change anytime soon.

Where is value support and resistance for the markets potentially building new price levels?
CME
Gold Futures and Options: Opportunities for Active Traders
Join a panel of experts as they explore these timely opportunities and how to trade using Gold futures and options. Panelists will include Jim Iuorio, CNBC contributor, Blu Putnam, CME Group Chief Economist, and Patrick O’Donnell, CME Group Senior Director of Metals.
Eurex Equity Index News - July 2020
  • Important news on MSCI derivatives
  • Find out which Eurex contracts are equivalent to the contracts to be delisted
  • Key benefits of trading Eurex MSCI products
SGX
SGX to Introduce SGX FTSE Taiwan Index Futures on 20th July
  • Round-the-clock exposure to the fast-growing Taiwan stock market, while achieving low tracking error against other Major Taiwan Indexes
  • Covering nearly 80% of Taiwan's listed companies by market capitalization, the underlying FTSE Taiwan Index is broad-based and most diversified index with low concentration in TSMC and Technology Sector
  • Available for trading during onshore and Singapore holidays, allowing investors to manage their risks in a timely manner
  • U.S. CFTC Certification expected by 24th July
Introduction to Small Precious Metals
Metals markets like gold, silver, and platinum have long represented an asset class distinct from stocks and bonds, and they afford all market participants a distinctive opportunity. Investors can add diversification to their portfolios. Risk managers can add exposure to a flight-to-quality asset in gold. And traders can add new products to their watchlist that may exhibit volatility regardless of where the stock market is.

This source of opportunity, however, is often obscured by trading products that don’t show an accurate picture of metals. Impure exposure from mining stocks like Newmont (NEM) and the ETFs that hold them can create much different results for traders looking to trade the hard commodities themselves.
ASIAN INDEXES