April 29, 2026

Bright Mornings - 29 Apr 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • U.S. crude oil prices rose more than 4% Tuesday on reports that President Donald Trump is dissatisfied with Iran’s proposal to reopen the Strait of Hormuz. West Texas Intermediate futures jumped more than 4% to $100.62 per barrel while the international benchmark Brent futures advanced about 3% to $111.68. Trump told his advisors that he is not satisfied with Iran’s proposal to open the strait and end the war.
  • The Peso breaches new highs anew, closing above 61 vs the Dollar. Weakness in the currency reflects the continued worries on uncertain talks between the US and Iran to resolve the now month-long conflict in the Gulf. Also the broad exodus from emerging-market assets overwhelmed the central bank’s recent efforts to shore up the currency through tighter monetary policy.

 

Fixed Income

  • PHP government bond yields drifted another 10bp higher from the previous sessions close after BTr's 4 and 10Y auction saw weak demand. Focus will now shift to global bond markets with FOMC this week.
  • US Treasury yields rose by 4bp, led by 5-7Y maturities as oil prices continue to rise. Yields remain in a holding pattern heading into FOMC.

 

Equities

  • Global equities retreated yesterday by -0.55% as concerns on technology stocks and rising geopolitical tensions weighed on investor sentiment. Asian markets were also broadly negative  as US-Iran negotitations has stalled.
  • The PSEi fell for a fifth straight session, down -0.58% to 5,866.79 as the Peso breached 61. All sectors were in the red, but Mining and Holdcos were relatively flat. 

 

Bright Idea: Position in our preferred global funds (global growth, global tech) to take advantage of the strong momentum as investors anticipate the resolution to the US-Iran war.

 

Daily Market Movements

Indicators 29 Apr 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,867 5,901 -0.58%
NASDAQ
Tech Focused US Index		 27,029 27,306 -1.01%
MSCI ACWI
Global Equity Index		 1,069 1,075 -0.56%
S&P500
US Equity Index		 7,139 7,174 -0.49%
PH Bond (10-Year) 6.88% 6.82% 6 bps
US Treasury Bond (10-Year)   4.35% 4.34% 1 bps
USD / PHP 61.280 60.710 -0.93%

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