May 15, 2026

Bright Morning - 15 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • Trump arrived in Beijing for a high-stakes summit with Xi Jinping, who warned that US actions on Taiwan could trigger conflict. Xi's stern message contrasted with Trump's friendly tone, as he praised their relationship. The meeting underscored rising tensions despite efforts to project cooperation between both powers.
  • The peso fell to P61.64 per dollar on Thursday, touching an intraday low of P61.66, as trading volume dropped. Analysts warned the currency could slide to a new record low as global energy shocks and worsening domestic political turmoil continue to undermine investor confidence.

Fixed Income

  • Local bond trading was very quiet as dealers pulled back, causing wider bid-offer spreads and weak liquidity. Some bonds adjusted to recent moves, with the 3-year bond ending 7 bps higher, but overall market activity remained limited.
  • US Treasury yields ended mixed but mostly steady as easing geopolitical tensions and stable oil prices calmed markets. The 10-year yield slipped to 4.46%, while the 30-year yield eased slightly above 5%.

Equities

  • Global equities rose 0.61% as strong tech earnings and optimism around the US-China meeting supported market sentiment.
  • The PSEi rebounded on Thursday by 1.15% on flows into beaten down index names. Traders shrugged off domestic political instability and aligned to the risk on mood across APAC ahead of the Trump-Xi meeting.

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 14 May 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 6,015 5,947 1.15%
NASDAQ
Tech Focused US Index		 29,580 29,367 0.73%
MSCI ACWI
Global Equity Index		 1,116 1,109 0.61%
S&P500
US Equity Index		 7,501 7,444 0.77%
PH Bond (10-Year) 7.55% 7.51% 4 bps
US Treasury Bond (10-Year)   4.48% 4.47% 1 bps
USD / PHP 61.640 61.380 -0.42%

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