Bright Morning - 01 September 2026

Bringing the latest market news closer to you.

Macroeconomy

• Oil prices climbed above $90/barrel as US-Iran tensions escalated, with military strikes, retaliatory attacks, and new US sanctions on Iranian-linked banks raising concerns over potential disruptions to global energy supply.
• The Bureau of the Treasury is reviewing its planned Php 380 billion September bond issuance as elevated long-term rates and a steep yield curve raise borrowing costs. This month's offerings include reissued 4-, 5-, 7-, and 10-year bonds, plus a new 5-year bond scheduled for September 22.

Fixed Income

• Local bond yields were mostly steady despite a weaker peso, supported by continued buying from local investors. Trading was light, particularly for longer-term bonds.
• US Treasury yields moved higher as rising oil prices and stronger expectations of future Fed tightening pressured bond markets. The yield curve steepened, reflecting reduced demand for longer-dated bonds and concerns that inflation risks may keep interest rates elevated.

Equities

• Global equities fell 0.34% as concerns over a more hawkish U.S. monetary policy outlook and renewed geopolitical tensions that pushed oil prices higher weighed on investor sentiment.
• The PSEi broke below the 6,000-level last Friday, to close at 5,956. Persistent foreign outflows battered the market with net foreign selling reaching Php 3.51 billion. The Philippine peso hit its weakest level at 62.265 versus the US dollar.

Daily Market Movements