May 04, 2026

Bright Mornings - 04 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • Trump announced a new effort to partially reopen the Strait of Hormuz. Iran has effectively closed the waterway since the US and Israel attacked in late February, which has cut off a major part of the world's oil supply. Trump added that there have been "very positive discussions" with Iran.
  • Philippine GDP is seen to slow further in the first quarter of 2026. Latest poll on GDP for first quarter shows a median forecast of 3.4%. This would be slower than the revised 5.4% expansion recorded in the first quarter of 2025. It would also fall short of the government's 5-6% target for this year.

Fixed Income

  • Last Thursday, 4-year Peso government bond yields rose 12.5 bps as local jitters persisted. Market players continue to reduce duration but yields continued to be supported at key levels, 5-year at 6.85% and 10-year 7.00%. Yields continue to trend higher after hawkish Fed comments.
  • US Treasuries rose as oil prices stopped climbing, and investors bought long bonds after 30-year yields briefly topped 5%. Short-term yields fell the most. The Fed stayed hawkish, pushing expectations for cuts further out.

Equities

  • Global equities rose +0.89% on the final trading day of April as investors digested strong corporate earnings results from US tech companies.
  • The PSEi fell back into the red after a one-session reprieve last Friday, down 72 pts (-1.26%) to 5,833.64. Performance was not helped by poor first quarter earnings releases from the likes of Ayala Land and Semirara, both reporting double-digit earnings declines.

Bright Idea: Add to our preferred global funds (Global Growth, Global Tech fund) as markets look past the US-Iran conflict.

 

Daily Market Movements

Indicators 30 Apr 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,834 5,908 -1.26%
NASDAQ
Tech Focused US Index		 27,452 27,187 0.98%
MSCI ACWI
Global Equity Index		 1,077 1,068 0.89%
S&P500
US Equity Index		 7,209 7,136 1.02%
PH Bond (10-Year) 6.96% 6.84% 12 bps
US Treasury Bond (10-Year)   4.37% 4.43% -6 bps
USD / PHP 61.485 61.567 0.13%

Disclaimer. Sun Life Investment Management and Trust Corporation (SLIMTC) makes no representation as to the accuracy or completeness of the information contained herein. The information contained in this presentation is for information purposes only. It is not intended to provide professional, investment or any other type of advice or recommendation in relation to purchases or sales of securities whether or not they are related to SLIMTC. It does not take into account the particular investment objectives, financial situation or needs of individual recipients. Any opinions or estimates herein reflect SLIMTC’s judgment as at the date of this material and are subject to change at any time without notice.

The products and services offered by SLIMTC are not covered by the Philippine Deposit Insurance Corporation (PDIC). Any income or loss from the said products and services shall be for the account of the client. SLIMTC is not liable for losses unless upon willful default, bad faith or gross negligence.

This material is for your reference only and does not constitute advice given by SLIMTC. Please review your financial needs depending on your personal situation and objectives. This material is a copyrighted work. You may not share, distribute, revise, transform, or build upon this material without prior written consent of, and proper attribution to SLIMTC. All trademarks are the properties of their respective owners.

SLIMTC is regulated by the Bangko Sentral ng Pilipinas. For concerns, inquiries, or feedback regarding SLIMTC products and services, you may reach us at SUNLINK (+632) 8849-9888) or via email at SLIMTC.Solutions@sunlife.com. You may also contact the BSP Financial Consumer Protection Office at +632-8708-7087 or email consumeraffairs@bsp.gov.ph.