<p><strong>GLOBAL: Iran has dismissed impending US sanctions</strong>, saying the expected new measures would fail to defeat Tehran. Iran has also promised sweeping retaliation. &nbsp;<br>&nbsp;</p>

<p><strong>Market impact: US stocks closed higher despite rising Treasury yields.</strong> Meanwhile, the dollar was little changed.&nbsp;<br><br>&nbsp;</p>

<p><strong>US Treasury Secretary Scott Bessent is expected to define the scope of new sanctions today despite Iran’s dismissal of the threats. </strong>This could further add to energy market volatility.</p>

<p><strong>LOCAL: According to a poll by BusinessWorld, the Bangko Sentral ng Pilipinas (BSP) is expected to raise rates in its August meeting</strong>, as policymakers weigh stubborn inflation.&nbsp;<br>&nbsp;</p>

<p><strong>Market impact: The PSEi rebounded, supported by bargain hunting and peso appreciation.&nbsp;</strong></p>

<p><strong>Metrobank expects further rate hikes amid persistent above-target inflation</strong> before pivoting to monetary policy easing as economic growth moderates. &nbsp;</p>