Bright Morning - 27 August 2026

Bringing the latest market news closer to you.

Macroeconomy

• Hopes for a resolution in the Strait of Hormuz improved after Iran and Oman reportedly agreed on terms to secure safe transit. However, Tehran maintained that the waterway would remain closed until the U.S. accepts its conditions, underscoring lingering geopolitical uncertainty.
• Inflation risks remain elevated in the Philippines, Vietnam, and Taiwan, with Singapore-based United Overseas Bank (UOB) pointing to imported energy shocks from the Middle East conflict and extreme weather as key drivers of higher food and energy costs.

Fixed Income

• PHP bond yields showed a mixed performance ahead of the BSP decision, as easing oil prices drove buying interest in short-dated bonds. Front-end yields fell 3-5bps, while the long end weakened by up to 3bps amid cautious positioning.
• US Treasury yields moved higher by 2-5bps after sticky PCE inflation strengthened expectations of further Fed tightening, with a December rate hike now fully reflected in market pricing.

Equities

• Global equities closed marginally higher at +0.04% as sticky inflation kept investors cautious ahead of a key technology earnings report.
• The PSEi declined for a second day, down 0.86% to 6,137 pts, as investors lightened positions ahead of today's BSP policy meeting, while net foreign selling persisted for a ninth straight session.

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