<p><span data-teams="true"><strong>GLOBAL: In the latest poll, the economy emerged as voters’ biggest concern ahead of the US midterm elections, with 39% citing it as the most important issue, followed by concerns over democracy and immigration.</strong></span></p>

<p><span data-teams="true"><strong>Market impact:</strong> <strong>US stocks, Treasury yields, and the dollar advanced</strong> as investors assessed the implications of the midterm elections.</span></p>

<p><span data-teams="true"><strong>Prediction markets are leaning toward a Democratic sweep</strong>, which means control of both the House and Senate. However, many pre-election forecasts expect a split vote.</span></p>

<p><span data-teams="true"><strong>LOCAL: The S&amp;P Global Philippines Manufacturing Purchasing Managers’ Index fell to 49.1 in September, as the pullback in purchasing activity and continued job losses point to subdued demand.</strong></span></p>

<p><span data-teams="true"><strong>Market impact:&nbsp;The PSEi declined amid heightened inflation concerns</strong>, while the peso strengthened on hopes of easing tensions in the Middle East.</span></p>

<p><span data-teams="true"><strong>The Super El Niño lasting into early 2027 could be a further headwind for local manufacturing</strong>, as it could cut agricultural output and push up input prices.&nbsp;</span></p>