<p><strong>GLOBAL: US President Donald Trump is requiring that any future negotiations include compensation paid to the US by Iran,</strong> mirroring Tehran's demands.</p>

<p><strong>Market impact: Oil held a three-day advance as US equities declined amid uncertainty</strong> over President Trump's conditions for reopening the Strait of Hormuz.</p>

<p><strong>Entrenched positions on both sides diminish the prospect of an immediate US-Iran agreement</strong> on Hormuz to resolve the conflict.</p>

<p><strong>LOCAL: BSP Governor Eli Remolona Jr. said that weak economic growth eased pressure to hike rates, </strong>while also stating that the central bank is not ready to declare victory over inflation.</p>

<p><strong>Market impact: The PSEi declined amid soft GDP data, </strong>while the peso strengthened after weak US employment reports pressured the dollar.</p>

<p><strong>Metrobank forecasts further rate hikes this year, </strong>contingent on inflation pressures driven by Middle East conflict spillover and El Niño.</p>