Bright Morning - 22 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• The US launched another night of strikes on Iran after tensions rose in the Strait of Hormuz, where Iran attacked a tanker. Yemen's Houthi militants also threatened Saudi shipping vessels, raising worries that oil prices could jump again.
• The Bangko Sentral ng Pilipinas ordered domestic lenders to bolster oversight of accounts connected to casino junket operators, warning that flows tied to the gaming sector pose elevated money laundering risks. In a memorandum, the BSP urged financial institutions to refine their anti-money laundering and counter-terrorism financing controls.

Fixed Income

• Peso bond yields rose 2-15 bps as higher oil prices dampened local market sentiment.
• US Treasury yields were higher by 3-5 bps led by short maturities as rate hike pricing edged higher amid rising oil prices. Markets are now pricing in a 26% chance of a 25bp rate hike in the Fed's upcoming July meeting.

Equities

• Global equities rose 1.03% as optimism around upcoming corporate earnings and a rebound in technology shares outweighed lingering geopolitical and trade concerns.
• The PSEi pulled back on Tuesday afternoon, closing the day 1.28% lower at 6,333.80 as traders took profits on index heavyweights.

Daily Market Movements