Bright Morning - 14 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• US and Iranian forces exchanged strikes over the weekend and issued conflicting accounts over whether the Strait of Hormuz remains open to shipping. Iran's strikes targeted American military bases in Kuwait, Bahrain, Jordan, Oman and Qatar.
• Elevated energy costs, weak investment, and softer domestic demand are slowing the Philippines' recovery from its recent growth slump, according to the Singapore-based United Overseas Bank (UOB). This warrants continued monetary policy tightening from the Bangko Sentral ng Pilipinas (BSP).

Fixed Income

• Peso government bond yields moved 12 bps higher as liquidity thinned amid poor risk appetite. Escalating conflict between US and Iran continued to dominate headlines and driving oil prices higher, which kept investors and dealers on the sidelines. 
• US treasury yields rose by 4-6 bps after hawkish remarks from Fed Governor Christopher Waller. Waller remarked that hikes in the near-term may be necessary if core inflation remains elevated. Higher oil prices further added to the bearish sentiment.

Equities

• Global equities fell 0.91% driven by a surge in oil prices from renewed US-Iran tensions in the Strait of Hormuz and a pullback in Al and semiconductor stocks.
• - The PSEi slid back to open the week yesterday, down 0.33% to close at 6,265 pts as the resurgence of oil prices over military exchanges in the Middle East put investor sentiments on a defensive stance.

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