Bright Morning - 24 July 2026

Bringing the latest market news closer to you.

Macroeconomy

• Sales of electric vehicles more than doubled in the first half of 2026, while overall automotive industry sales declined by 11 percent as elevated fuel prices continued to dampen demand. Based on the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) total vehicle sales fell to 204,557 units.
• Oil prices rose after Trump threatened strikes on Iranian infrastructure over attacks on Hormuz shipping. WTI futures were also on course for their third-largest monthly rise in a decade, on a monthly increase of 30%.

Fixed Income

• Peso government bond yields were as much as 17 bps higher. Rising oil prices and weaker Peso continue to increase inflationary risks.
• US Treasury yields extended its advance as oil prices continue to rise. Lower-than-expected initial jobless claims further stoked rate hike expectations amid inflation concerns. Yields were higher by 3-6 bps.

Equities

• Global equities retreated 0.88% as geopolitical tensions in the Middle East and aggressive artificial intelligence spending forecasts from tech giants soured investor sentiment.
• The PSEi was in the green, up 0.24% to 6,283, though sentiment remained cautious amid continued peso weakness and elevated oil prices.

Daily Market Movements