<p><strong>GLOBAL: </strong>The US launched another wave of airstrikes against Iran. US President Donald Trump warned that the US would expand its targeting to vital civilian infrastructure if Iran does not agree to a diplomatic deal.&nbsp;</p>

<p><strong>Market impact: </strong>Oil prices climbed amid supply constraints, while US equities advanced, supported by favorable inflation data and corporate earnings.</p>

<p><strong>If negotiations do not resume by next week,</strong> US strikes on Iranian power plants will likely trigger retaliation.</p>

<p><strong>LOCAL: </strong>Cash remittances from Overseas Filipino Workers settled at USD 2.713 billion in May, the lowest monthly tally recorded since last year. The weak peso eased the pressure to send larger amounts as each dollar buys more pesos.</p>

<p><strong>Market impact: </strong>The PSEi surpassed the 6,300 level amid renewed bargain hunting, while the peso strengthened on favorable US inflation data.</p>

<p><strong>Remittances are expected to surge in the near term due to the school season, </strong>as households face tuition and other academic-related expenses.</p>