Bright Morning - 26 August 2026

Bringing the latest market news closer to you.

Macroeconomy

• Canada is set to announce retaliatory tariffs against the U.S. on Tuesday after relations deteriorated sharply, with President Trump threatening tougher measures and Prime Minister Mark Carney accusing Washington of undermining Canadian sovereignty.
• Strong investment momentum continued as PEZA-approved pledges rose 74% in the first eight months of the year, putting the agency on track to reach its PHP300 billion target.

Fixed Income

• PHP bond yields were little changed heading into BSP's rated decision on Thursday. Better selling interest was seen in the secondary market as participants take profit ahead of the risk event.
• US Treasury yields fell by 3-6bps, with 10-year and 30-year bonds outperforming as lower oil prices, driven by hopes for progress in Middle East negotiations, eased inflation and rate hike concerns. Longer-dated bonds also benefited from short covering following the Treasury Department's buyback program.

Equities

• Global equities advanced 0.41% as buying returned following earlier technology sector weakness ahead of key earnings reports.
• The PSEi slid 0.98% to 6,190 pts yesterday as investors remained cautious ahead of the BSP policy meeting, with persistent inflation concerns and continued foreign selling weighing on market sentiment.

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