Bright Morning - 22 June 2026

Bringing the latest market news closer to you.

Macroeconomy

• U.S. President Donald Trump threatened to restart war with Iran on Sunday. Meanwhile, Vice President JD Vance met Iranian officials in Bürgenstock, Switzerland for interim peace talks. However, the negotiations were immediately overshadowed by Tehran's announcement that it had once again closed the strategic Strait of Hormuz.
• PH government infrastructure spending plummeted 45.6% to P189.3 billion in the first four months of the year, down from P347.6 billion last year. DBM data confirms this critical drop that can no longer be ignored.

Fixed Income

• Philippine government bond yields traded within a tight 3 to 8 basis point range on two-way interest. This price action reflected broad sideways trading ahead of the upcoming 4-year and 10-year treasury auctions.
• With US Treasury trading closed for the holiday, market attention shifted to Europe, where sovereign bonds fell following a steep selloff in UK gilts triggered by heightened political and fiscal uncertainty.

Equities

• Global equities fell 0.15% after the U.S.-Iran talks were called off and rising interest rate concerns continued given a more hawkish Federal Reserve stance.
• The PSEi fell 18.31 points (-0.30%) to 6,135.35 last Friday as investors increasingly factored in a high-interest rate environment. All eyes are now on fragile peace talks amidst escalating US-Iran geopolitical friction.

Bright Idea

• Navigate economic shifts by aligning your portfolio to global innovation with the SLIMTC PHP Multi-Class Nasdaq-100 Index Equity Feeder Fund. This fund may help smooth out the impact of local energy crises through global diversification, focusing on liquid, large-cap global innovators through the Invesco EQQQ Nasdaq-100 UCITS ETF (Target Fund)

Daily Market Movements

The US was on a public holiday last Friday, 19 Jun 2026. Returns as of 18 Jun 2026.