May 22, 2026

Bright Morning - 22 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • Oil markets may soon enter a red zone as stockpiles fall and summer travel lifts demand, the International Energy Agency said. IEA chief Fatih Birol warned that the best way to ease the Iran war's energy shock is to fully and unconditionally reopen the strategically vital Strait of Hormuz.
  • Higher fuel and fertilizer costs from the Middle East conflict, along with drier weather, are putting more pressure on Philippine rice production, IRRI said. The group warned these strains could hurt farmers, limit output, and add to inflation as El Niño risks continue to build further.

Fixed Income

  • Local bond yields fell yesterday as lower US rates encouraged buyers. Despite the decline, overall trading remained quiet with wide bid-offer spreads.
  • Hopes for a US-Iran peace deal lowered geopolitical tensions, pushing US Treasury yields near session lows. Yields wiped out earlier increase, with the 10-year yield dropping 2 basis points to 4.57%.

Equities

  • Global equities rose 0.48% as stocks edged higher on easing oil prices and declining bond yields amid cautious optimism over potential progress in Middle East peace talks.
  • The PSEi bounced back into green territory on Thursday, up 0.46% to close at 5,920 pts as cues for peace on the US-Iran conflicts taken from Trump statements were positive for investor sentiment.

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 21 May 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,921 5,893 0.46%
NASDAQ
Tech Focused US Index		 29,357 29,298 0.20%
MSCI ACWI
Global Equity Index		 1,107 1,102 0.48%
S&P500
US Equity Index		 7,446 7,433 0.17%
PH Bond (10-Year) 7.79% 7.81% -2 bps
US Treasury Bond (10-Year)   4.57% 4.59% -2 bps
USD / PHP 61.581 61.740 0.26%

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