Bright Morning - 09 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• US President Donald Trump said Wednesday that America's ceasefire with Iran was over. "I don't want to deal with them anymore," he said during a press conference at the NATO summit in Ankara, Turkey. Trump's comments came after the US launched a series of retaliatory strikes against Iran.
• President Marcos' economic team downgraded its growth targets and raised its inflation forecasts for the year due to heightened governance issues, geopolitical tensions in the Middle East, and the El Niño phenomenon that is threatening to disrupt the country's economic momentum.

Fixed Income

• PHP government bond yields ended the day 1-5 bps higher as oil prices rose on rising US-Iran tensions.
• US Treasury yields traded another leg higher with Trump announcing the end of the ceasefire with Iran. Yields were higher by 1-4bps.

Equities

• Global equities fell 0.61% as markets reacted to renewed U.S.-Iran tensions that drove oil prices higher and reignited inflation concerns.
• Local equities stayed in the green yesterday, with the PSEi gaining 28 pts (0.46%) to 6,275.77, as investors chose to focus on slowing inflation rather than reigniting Strait tensions. Trump has since stated that he believes the ceasefire is over resulting in oil prices rising further overnight.

Bright Ideas

• As inflation is seen to moderate and markets anticipate rates to trend lower, don't wait for yields to go down further and consider bond funds and fixed payout products as part of your portfolio.

Daily Market Movements