April 30, 2026

Bright Mornings - 30 Apr 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • The United Arab Emirates (UAE) said it will leave OPEC effective May 1, stripping the oil cartel of its third-largest producer and further weakening its leverage over global oil supplies and prices. The decision of the UAE did not surprise as this has been rumored for a few years now. In recent years, UAR has been against OPEC production quotas it felt had been too low — meaning it wasn't able to sell as much oil to the world as it had wanted.
  • The Peso continues to remain under pressure, inching closer to 62 as the deepening conflict in the Middle East fueled safe-haven demand and clouded the outlook for the country’s trade balance. Market participants are increasingly concerned that the sustained weakness will widen the country’s current account deficit. High energy costs and renewed inflation forecasts are dampening growth prospects for the Philippines.

 

Fixed Income

  • Local bond bids weakened by 10–15 bps and trading was quiet, with wide bid-offer spreads. In the auction, the BTr partially awarded the 10-year due to low demand. Higher oil prices and a weak peso kept sentiment cautious, encouraging derisking.
  • US Treasury bonds fell after the Fed held rates but showed more internal disagreement. The 2-year yield jumped about 11 basis points to ~3.95%, and the 30-year touched 5%. Oil’s rise added inflation worries, lifting the dollar and raising odds of a 2027 hike to ~50%.

 

Equities

  • Global equities remain muted on Wednesday, marginally dipping -0.13%, as the U.S. Fed leaves rates unchanged and ahead of megacap earnings results.
  • The PSEi rebounded to end a six day losing streak, up 0.70% and closing at 5,907 pts as investor sentiments turned to bargain hunting at deeply corrected levels. PSEi levels are expected to remain jittery as still unresolved geopolitical tensions drags on outlooks. 

 

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 30 Apr 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,908 5,867 0.70%
NASDAQ
Tech Focused US Index		 27,187 27,029 0.58%
MSCI ACWI
Global Equity Index		 1,068 1,069 -0.13%
S&P500
US Equity Index		 7,136 7,139 -0.04%
PH Bond (10-Year) 6.84% 6.88% -3 bps
US Treasury Bond (10-Year)   4.43% 4.35% 8 bps
USD / PHP 61.567 61.280 -0.47%

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