Bright Morning - 03 September 2026

Bringing the latest market news closer to you.

Macroeconomy

• Geopolitical tensions escalated after Iran launched attacks on U.S. allies in the Gulf following overnight U.S. airstrikes that Tehran said hit a wedding gathering. The exchange ended a monthlong lull in hostilities and renewed uncertainty over prospects for a lasting resolution.
• Maharlika Investment Corp. (MIC) is awaiting the release of the remaining PHP50 billion from its mandated PHP125 billion initial capitalization, even as the sovereign wealth fund ramps up investment deployment.

Fixed Income

• The peso bond market weakened as persistent outflows pushed 3-5 year government bond yields 5-7.5 bps higher. Sentiment was further pressured after the 5-year Treasury auction cleared at 7.218%, near the upper end of market expectations, prompting selling in longer-dated bonds
• Overnight, US bond yields eased slightly, providing modest support to fixed income markets. Investors remained watchful of elevated oil prices, which could fuel inflation and keep interest rates higher for longer.

Equities

• Global equities edged higher, returning 0.03%, as investors weighed ongoing Middle East geopolitical tensions against expectations for upcoming central bank policy decisions.
• The PSEi retreated 0.67% to 6,053 as profit-taking emerged after the previous session's rally, with sentiment further pressured by escalating U.S.-Iran tensions, higher oil prices, and continued peso weakness.

Daily Market Movements