May 14, 2026

Bright Morning - 14 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • President Trump has sparked alarm in Taipei and among Asian allies by saying he would discuss American arms sales to Taiwan with Xi Jinping during the US-China summit. Trump said he would discuss the issue with Xi, breaking decades of not consulting with Beijing on US arms exports to Taiwan.
  • India, Indonesia, Taiwan, and Vietnam are expected to outgrow the Philippines this year as inflation, and weaker remittances weigh on domestic demand. Goldman Sachs said private consumption, a key driver of Philippine growth, will likely stay soft in the first quarter of 2026.

Fixed Income

  • The local bond market was weaker, with yields moving higher. Buying interest in the afternoon helped stabilize the 3-year tenor, while the sentiment on the rest of the curve remained cautious.
  • US Treasury yields were mostly steady, though longer-term bonds weakened slightly after a soft 30-year auction. Lower oil prices provided some support.

Equities

  • Global equities rose 0.54% as gains in technology stocks driven by ongoing Al enthusiasm offset concerns over elevated inflation and rising oil prices linked to persistent Middle East tensions.
  • The PSEi fell 0.42% to 5,947 as traders reacted to the MSCI's quarterly review, corporate earnings releases, and potential political instability in the country.

Bright Idea: Locking in yields at current levels (10-year higher than 7% sounds like a good move to add some stability. We recommend clients to consider adding local bond funds to their portfolios at this point.
 

Daily Market Movements

Indicators 13 May 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,947 5,972 -0.42%
NASDAQ
Tech Focused US Index		 29,367 29,065 1.04%
MSCI ACWI
Global Equity Index		 1,109 1,103 0.54%
S&P500
US Equity Index		 7,444 7,401 0.58%
PH Bond (10-Year) 7.51% 7.37% 13 bps
US Treasury Bond (10-Year)   4.47% 4.46% 1 bps
USD / PHP 61.380 61.480 0.16%

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