<p><span data-teams="true"><strong>GLOBAL: Trade talks between the US and Canada have intensified,</strong> with US Commerce Secretary Howard Lutnick in deep negotiations with Canadian officials last week.&nbsp;</span></p>

<p><span data-teams="true"><strong>Market impact: US equities advanced following Anthropic’s IPO filing, </strong>while the dollar strengthened amid escalating geopolitical tensions.</span></p>

<p><span data-teams="true">White House National Economic Council Director Kevin Hassett said <strong>the US and Canada are very close to a final deal.</strong></span></p>

<p><span data-teams="true"><strong>LOCAL: President Ferdinand Marcos Jr. has reshuffled the Cabinet to accelerate government reforms,</strong> particularly in the Department of Transportation and the Department of Public Works and Highways.&nbsp;</span></p>

<p><span data-teams="true"><strong>Market impact: The PSEi extended its losses and the peso hit a record low</strong> amid intensifying stagflation concerns.</span></p>

<p><span data-teams="true"><strong>Sudden leadership changes in heavy-spending agencies could disrupt budget disbursements</strong> and temporarily stall government infrastructure rollouts.</span></p>