The Weekly Review

Local equities climbed as the two-week ceasefire deal between the US and Iran lifted overall market sentiment.​

Top performers were DigiPlus Interactive Corporation (PSE Ticker: PLUS; +7.69%), Metropolitan Bank & Trust Company (MBT; +6.83%), and Ayala Land, Inc. (ALI; +6.35%). Meanwhile, Universal Robina Corp. (PSE Ticker: URC; -3.28%), Century Pacific Food, Inc. (CNPF; -3.88%), and Jollibee Foods Corp. (JFC; -4.94%) were the laggards of the week.

▲ The PSEi closed at 6,098.21 (+1.66% WoW). 

Local fixed income yields dropped on optimism following the announcement of a two-week ceasefire between the US and Iran, helping ease domestic inflation concerns.

▼ On average, yields fell by 20 bps, with the 2Y closing at 5.75% (-22 bps) and the 10Y closing at 6.60% (-23 bps).

The Philippine peso strengthened after US President Trump announced a temporary ceasefire deal between the US and Iran. However, the peso saw some volatility within the week after S&P Global Ratings lowered its credit rating outlook for the Philippines from ‘positive’ to ‘stable’ due to heightened risks amid the Middle East conflict.

▼ The USD/PHP pair closed at 59.97 (-0.32% WoW).

US equities rose amid de-escalating geopolitical tensions after the US and Iran agreed to a two-week ceasefire. Within the week, Israel also signaled that it is seeking direct negotiations with Lebanon.​

▲ S&P 500 closed at 6,816.89 (+3.56% WoW).

▲ DJIA closed at 47,916.57 (+3.04% WoW). 

US Treasury yields declined as investors weighed the slower US core personal consumption expenditure (PCE) inflation of 3.0% in February (January: 3.1%). This was also after the improved market sentiment as the US-Iran ceasefire talks raised hopes of an end to the conflict. 

▼ On average, yields fell by 3 bps, with the 2Y closing at 3.80% (-5 bps) and the 10Y closing at 4.32% (-3 bps).

The US dollar weakened amid hopes of easing geopolitical tensions following the announcement of a two-week US-Iran ceasefire. Investors also weighed the softer core PCE inflation in February, the downward revision to 4Q25 US economic growth, and the higher-than-expected jobless claims for the week ended April 4.

▼ The DXY closed at 98.65 (-1.38% WoW). 

Sources: BusinessWorld, Inquirer, Philippine Star, Manila Bulletin, Businessmirror, PSE Edge, Bloomberg, CNBC, Reuters, CNN, Wall Street Journal, Financial Times, Market Watch

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