Bright Morning - 10 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• US President Donald Trump told reporters Wednesday night that he does not know if the US and Iran are returning to a full-scale military conflict. He added that Iran had called to make a deal with the U.S. after a series of American strikes.
• The Bangko Sentral ng Pilipinas (BSP) is expected to extend its monetary tightening cycle to a peak of 5.5 percent, according to Goldman Sachs Group Inc., as sticky underlying price pressures overshadow the recent cooldown in headline inflation.

Fixed Income

• PHP government bond yields surged by 10-35 bps as participants derisk amid rising US-Iran tensions. Longer maturities underperformed. 
• US treasury yields eased off highs as the rise in oil prices stalled despite US strikes on Iran. Yields ended the day 2-6 bps lower with short maturities outperforming.

Equities

• Global equities rose 0.72% as investor sentiment improved on expectations that US-Iran tensions would remain contained and renewed strength in semiconductor shares supported risk appetite.
• The PSEi broke its six-session streak of gains yesterday, falling 0.83% to 6,223 pts, as concerns over the Iran conflict took hold once again. Only four PSEi constituents were in the green yesterday while conglomerates and banks took the brunt of the downturn.

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