May 07, 2026

Bright Mornings - 07 May 2026

Bringing the latest market news closer to you.

 

Macroeconomy

  • Crude oil plunges almost 12% as reports emerged that the US and Iran are discussing a pause the Hormuz conflict. President Trump halted its naval escort through the Strait of Hormuz citing "great progress" toward a "complete and final agreement" with Iran.
  • Philippine unemployment slightly fell to 5% in March from 5.1% in February, despite pressures from the war. The jobless rate in March represented 2.58 million Filipinos, down from 2.66 million in February. The decline in unemployment came from a decrease in participation rate to 63.3%.

Fixed Income

  • Local bonds were mostly steady, with limited deals and bid-offers still wide. Some illiquid bonds caught up to Tuesday's move, while selling pushed 5-year yields about 10 bps higher day-on-day.
  • US Treasuries rose after reports the US and Iran may restart talks, easing risk sentiment. Oil fell and yields dropped about 5-8 bps.

Equities

  • Global equities rose 1.82% as hopes of progress toward a US-Iran agreement pushed oil sharply lower and upbeat Al-related earnings supported risk appetite.
  • The PSEi recovered 1.17% to 5,967 yesterday on Iran conflict hopes and a third day of net foreign buying. All eyes are on the release of Philippine 1Q GDP data today which could dictate whether the local equities recovery is sustained.

Bright Idea: Add to our preferred global funds (Global Growth, Global Tech fund) as markets look past the US-Iran conflict.

 

Daily Market Movements

Indicators 06 May 2026 Previous Day Daily Change
PSEi
Philippine Equity Index		 5,967 5,898 1.17%
NASDAQ
Tech Focused US Index		 28,599 28,015 2.08%
MSCI ACWI
Global Equity Index		 1,104 1,084 1.82%
S&P500
US Equity Index		 7,365 7,259 1.46%
PH Bond (10-Year) 7.50% 7.32% 18 bps
US Treasury Bond (10-Year)   4.35% 4.42% -8 bps
USD / PHP 61.305 61.550 0.40%

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