May 26, 2026

Bright Morning - 26 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • Oil markets are nearing minimum operating levels in Asia and threatening European and U.S. shortages by July. Strategist Jeff Currie mentioned that headline global inventory figures can be misleading as most stored crude cannot be used immediately.
  • The interagency Financial Stability Coordination Council (FSCC) flagged rising risks to the Philippine financial system from the prolonged war in the Middle East. A prolonged Middle East conflict could drive oil prices higher, weaken market sentiment, tighten financial conditions, as well as slow both global and domestic economic growth.

Fixed Income

  • Local bond yields were mixed on light trading as most remain sidelined ahead of 4 and 10-year auctions. Better buying interest was seen for longer maturities amid improved sentiment over US-Iran negotiations.
  • US Treasury cash trading was closed amid the US holiday. Meanwhile, US Treasury futures saw better buying, which implied a drop in yield of as much as 6 bps on the day. Lower oil prices from optimism over US-Iran negotiations continue to drive markets.

Equities

  • Global equities rose +0.50% as cautious optimism around U.S.-Iran negotiations supported risk appetite.
  • The PSEi was up 0.69% to 5,961 as the prospect of peace in the Middle East continued to lift local traders' spirits.

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 25 May 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 6,009 5,961 0.80%
NASDAQ
Tech Focused US Index		 29,482 29,357 0.00%
MSCI ACWI
Global Equity Index		 1,118 1,113 0.50%
S&P500
US Equity Index		 7,473 7,446 0.00%
PH Bond (10-Year) 7.55% 7.75% -20 bps
US Treasury Bond (10-Year)   4.56% 4.56% 0 bps
USD / PHP 61.465 61.690 0.37%

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