Bright Morning - 05 June 2026

Bringing the latest market news closer to you.

Macroeconomy

• Crude oil prices fell about 3% after reports said President Trump does not want a wider war with Iran. West Texas Intermediate dropped 3.5% to $92.64 a barrel. Officials said the ceasefire is mostly holding, though Trump may end it if Iran kills American troops for now.
• Philippine inflation likely rose further in May from April's more than four-year high of 7.2%, strengthening the case for more rate hikes. Goldman Sachs expects 7.6% inflation, below Bloomberg's 8.2% estimate, and sees consumer prices increasing 0.3% month on month during the period for May overall.

Fixed Income

• Peso government bond yields were mixed on light trading ahead of May CPI (6.8% actual vs. 7.8% expected). Buying interest was seen for 5Y tenors while other maturities underperformed with yields higher by 5 bps.
• UST yields were lower by 2-3 bps as oil prices fell on positive US-Iran developments. News of a conditional ceasefire between Isreal and Lebanon improved prospects of a US-Iran peace deal.

Equities

• Global equities rose 0.13% as European markets advanced while US equities were mixed, with sentiment weighed by cooling Al momentum and easing oil prices following a Middle East ceasefire.
• The PSEi slid down on Thursday, down 0.69% to close at 5,911 pts following three straight days of advance as investors considered ongoing tensions in the Middle East.

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