Hindi man bahagi ng MH investment universe ang bonds, pinalawak ng Module 9 ang aming pag-unawa sa interest rates, yields, credit risk, at market structure.
Originally published: July 21, 2026 · Last updated: July 23, 2026
CSSC Learning Series Index | ◀︎ Module 8 | Module 10 ▶︎ |
About the CSSC Learning Series
Ang post na ito ay bahagi ng ating CSSC Learning Series, kung saan idinodokumento natin ang ating karanasan, mga natutuhan, at mahahalagang takeaways mula sa 17th PSE-Ateneo Certified Securities Specialist Course.
Ang programang ito ay isa sa mahahalagang capital-market education initiatives ng Philippine Stock Exchange, katuwang ang Ateneo Center for Continuing Education. Binubuo ito ng humigit-kumulang 123 oras ng continuing education tungkol sa financial at securities market theories, valuation techniques, fundamental at technical analysis, investment portfolio management, market dynamics, ethics, securities regulations, at real-world applications ng finance principles.
Ang bawat module ay pinangungunahan ng mga piling market practitioners at academicians na may malawak na kaalaman at aktuwal na karanasan sa finance at capital markets. Kasama sa programa ang synchronous at asynchronous lectures, exercises, group assignments, examinations, at hands-on training gamit ang iba’t ibang financial information platforms.
Sa matagumpay na pagtatapos ng programa, ang mga participants ay bibigyan ng certification mula sa PSE at Ateneo at igagawad ang titulong Certified Securities Specialist—isang karagdagang professional credential na kinikilala sa Philippine capital-markets industry.
Pero dito sa Micro Stock Trader Blog, hindi lamang natin tinitingnan ang bawat module bilang academic requirement. Sinusuri rin natin kung paano maisasalin ang mga aral nito sa aktuwal na karanasan ng isang retail stock trader—lalo na sa patuloy nating pagbuo, pagsusuri, at pagpapahusay ng Micro Harvesting framework.
Ito ang ating kuwento bilang Board Lot Warrior—ang inyong Batangueñong retail stock trader—na patuloy na nag-aaral, sumusubok, at nag-a-upgrade ng sariling sistema sa merkado.
The Boundaries of Micro Harvesting
May malinaw na investment boundary ang Micro Harvesting 2.0: 100% local equities lamang, limited sa PSE-listed common stocks at, batay sa pinakamahusay na available information, primarily Shariah-compliant companies.
Dahil dito, hindi bahagi ng MH portfolio universe ang fixed-income securities, bonds, Treasury bills, preferred shares, o iba pang debt instruments.
Why We Still Studied Fixed Income
Gayunman, mahalaga pa ring maunawaan kung paano gumagana ang bond market dahil bahagi ito ng mas malawak na financial system na nakaaapekto rin sa equities.
Ang movements sa interest rates, inflation, monetary policy, at government borrowing ay may epekto sa valuation, financing costs, investor sentiment, at capital allocation sa stock market.
What We Learned in Module 9
Sa Module 9, tinalakay ang pagkakaiba ng debt at equity securities, mga uri ng government at corporate bonds, primary at secondary markets, at mga pangunahing konsepto gaya ng par value, coupon, maturity, yield to maturity, at time value of money.
Isa sa pinakamahalagang prinsipyong natutuhan namin ay ang inverse relationship ng bond prices at interest rates: kapag tumataas ang market rates, karaniwang bumababa ang presyo ng existing bonds, at vice versa.
Fixed Income Does Not Mean Risk-Free
Natalakay rin ang credit risk, liquidity risk, inflation risk, reinvestment risk, yield curves, duration, at convexity.
Ipinakita ng module na ang tinatawag na “fixed income” ay hindi nangangahulugang walang market risk. Ang bond prices ay maaari pa ring maapektuhan ng interest rates, inflation, issuer quality, liquidity, at pagbabago sa market expectations.
The Value to Micro Harvesting 2.0
Hindi man namin gagamitin ang bonds bilang MH investment instrument, nakatutulong ang module upang mas maunawaan ang interest rates, monetary policy, financing costs, at risk assessment.
Sa ganitong paraan, ang fixed-income knowledge ay hindi bahagi ng ating portfolio—but it remains part of the wider market intelligence supporting better equity decisions.
This independent article documents our personal experience, interpretation, and application of concepts discussed in the 17th PSE–Ateneo Certified Securities Specialist Course. PSE, Ateneo de Manila University, and the respective course facilitators retain all rights over their original course materials, presentations, images, charts, and other proprietary content. No official course material is reproduced in this post, and no endorsement or affiliation is implied.
The PSE has confirmed that its Shariah screening program is currently paused, with no new lists to be released until their internal review is completed. Although news outlets reported quarterly updates up to mid-2025, these later lists are no longer accessible on the PSE website.
For now, the PSE’s Shariah-Compliant Securities page and all past lists have been removed from the public website. The December 24, 2024 list is the last official version in Micro Stock Trader’s possession, downloaded before the page was taken down, although other investors may still hold later copies such as the reported July 4, 2025 release.
All halal-focused strategies under Micro Stock Trader will use a conservative, self-screened approach until official guidance resumes, in shā’ Allāh.
This post is for educational and documentation purposes only. It is not investment advice. Perform your own due diligence and consult qualified financial professionals before making investment decisions. All strategies, frameworks, and examples described here reflect the personal methodologies of Micro Stock Trader and are not guarantees of future performance.
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