Bright Mornings - 27 Apr 2026

Bringing the latest market news closer to you.

Macroeconomy

• Kevin Warsh, the current Fed Chair nominee of Pres. Trump, has cleared a path to a floor vote in the US Senate after a senior Republican senator now will vote to pass him in committee. This is a key win for the Trump Administration, which expected Warsh's nomination process to be drawn out.
• Business confidence at 25-year lows. That's the results of the latest Business Sentiment Survey of the BSP. The cause for pessimism is the continuing conflict in the Gulf that has affected oil, fertilizer and other supply lines. Second quarter expectation is also equally pessimistic as the situation in the Gulf is seen to be prolonged.

Fixed Income

• PHP government bond yields ended the day 2-7 bps higher with short maturities underperforming post-BSP rate hike.
• US Treasury yields ended the day 2-5bp lower after the DOJ dropped its probe on the Federal Resereve, opening the way for Kevin Warsh's appointment as Fed Chair. Optimism over US-Iran talks further added support.

Equities

• Global equities rose on Friday driven by ​optimism over AI demand and robust first-quarter earnings ‌from some major U.S. banks.
• The PSEi closed the week on a negative note, down 0.93% week-on-week to 5,943 points as risks on oil supply and prices remained the focus of investor caution. 

Bright Idea: Consider positioning in global funds with significant US exposure as first quarter

2026 corporate earnings beatDaily Market Movements