Bright Morning - 11 June 2026

Bringing the latest market news closer to you.

Macroeconomy

• US inflation rose in May as higher energy prices pushed up living costs. Consumer prices increased 0.5% from the previous month, lifting annual inflation to 4.2%, the first reading above 4% in three years. The result matched forecasts but renewed concern about how energy costs may hurt economic growth ahead.
• Fitch Ratings cut its outlook for Philippine banks to deteriorating, saying the US-Iran war could slow lending, raise credit costs, and reduce profits. Fitch said the region depends heavily on Middle East oil and gas, leaving it more exposed to higher inflation and weaker growth if the conflict continues longer.

Fixed Income

• Peso government bond yields fell by as much as 17 bps as bottom fishers picked up 5-10y bonds amid lower oil prices.
• US treasuries were 1-3 bps higher, reversing an initial drop after a softer-than-expected core CPI print, as oil rose on flaring middle east tensions.

Equities

• Global equities fell -1.49% amid a tech-led correction and escalating geopolitical tensions. The May U.S. inflation also remained elevated dampening expectations for near-term rate cuts.
• The PSEi was relatively flat on Wednesday, down just 0.07% to 5,941.36, as most index names declined in response to a reescalation of violence in the Middle East. Index heavyweight, ICT, bucked the trend.

Bright Idea

• Volatile markets mean idle US dollars in savings may lose potential value. The SLIMTC USD Multi-Class Money Market Global Fund of Funds offers competitive yields compared to standard bank deposits, allowing your cash to grow and available for future investment opportunities.

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