Bright Morning - 04 September 2026

Bringing the latest market news closer to you.

Macroeconomy

• Hopes for a diplomatic breakthrough emerged after President Putin said there remains a "chance" for peace, though he stressed that Russia and Ukraine must resolve the conflict themselves. Meanwhile, NATO warned that Russia is becoming increasingly reckless as Ukraine intensifies its drone campaign.
• The Department of Finance is considering higher taxes on luxury vehicles and other non-essential goods to boost government revenues. Officials said the current tax system does not impose a sufficiently higher burden on luxury consumption, leaving potential revenues untapped.

Fixed Income

• PHP bond yields rallied, falling by as much as 15bps, as dip buying gained traction amid stabilizing global yields. President Marcos' remarks on supporting the peso further boosted market sentiment.
• US Treasury yields fell by 1-4bps, led by the 2-year sector, as markets pared back rate hike expectations following dovish remarks from Fed Governor Christopher Waller.

Equities

• Global equities advanced 1.06% as easing bond yields boosted risk appetite, while resilient earnings and expectations for unchanged U.S. policy rates provided additional support.
• The PSEi rose 0.27% to 6,069 as investors remained cautious ahead of the August inflation print, while gains in mining and oil stocks, supported by strong commodity-linked earnings, helped lift the market.

Daily Market Movements