Bright Morning - 01 June 2026

Bringing the latest market news closer to you.

Macroeconomy

• Brent crude jumped 2.45% to $93.35 as Israel pushed deeper into Lebanon, threatening the fragile US-Iran ceasefire. The escalation followed Friday's peace talks, dimming hopes for an extended Washington-Tehran agreement.
• Philippine inflation likely hit a three-year high of 7.9% last month, driven by war-elevated oil prices, high food costs, and a weak peso. A BusinessWorld poll of 16 economists matched this median estimate, hitting the upper limit of the BSP's 7.1%-7.9% forecast.

Fixed Income

• Philippine government bond yields dipped across the curve. High-duration 20-25Y tenors rallied 15-25 bps on thin volume, while 2-10Y yields edged 1-2 bps lower. Players stayed sidelined due to US-Iran peace deal uncertainty, leaving long bonds open to opportunistic bottom-fishing.
• US treasury yields were a little changed as markets await developments on the US-Iran peace deal. Yields were initially lower earlier in the session but was eventually unwound on reports that Trump had made no decision on a deal.

Equities

• Global equities rose +0.22% as markets gained following an extension of the U.S.-Iran ceasefire while investors assessed the latest U.S. inflation data and revisions to economic growth.
• The PSEi plummeted for a third consecutive session last Friday, dropping 91.18 points (-1.56%) to close at 5,768.76 as heavy outbound MSCI rebalancing flows battered the market. Investor sentiment will likely dampen today, as fresh Israel-Lebanon conflict appears to be brewing.

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