Bright Morning - 02 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• Private sector employment grew by a seasonally adjusted 98,000 jobs for the month, down from 122,000 in May. Nearly half the job creation in June came from the education and health services sector. Annual pay gains for those staying in their jobs held steady at 4.4% while edging higher to 6.6% for job switchers.
• Several cooperation agreements in various areas, such as energy, trade, and others, are expected to be signed between the Philippines and Canada during President Marcos' official visit. Marcos' official trip to Canada primarily aims to further strengthen the strong bilateral relationship between the Philippines and Canada.

Fixed Income

• Peso governtment bond yields ended 10-30bp higher with 7 and 10Y tenors underperforming. Weakness in global bonds spilled over to the local space, while a stronger USD further added to the selling interest.
• US Treasury yields were 2-4bp higher led by the longer dated maturities. US treasuries initially caught a bid after Fed Chair Warsh softened his stance on inflation. Gains were unwound into the close as market participants position ahead of jobs

Equities

• Global equities slightly dipped 0.24% as a pullback in semiconductor stocks offset strength in financials and communication services, with markets pausing after a historically strong first half.
• The PSEi bounced back from its prior day pull back, up 0.53% to close at 6,069 pts as the minimum wage hike and positive May manufacturing PMI improved investor confidence.

Daily Market Movements