<p><strong>GLOBAL:</strong> US job openings held steady at 7.6 million in May, hovering near a two-year high. However, companies are not filling roles quickly amid geopolitical tensions.&nbsp;</p>

<p><strong>Market impact: </strong>US Treasury yields and the dollar saw modest gains after the release. US equities concluded their strongest quarter in six years, bolstered by the technology sector.&nbsp;</p>

<p><strong>As companies manage uncertainty,</strong> they will continue to only fill essential roles rather than aggressively expanding headcounts, solidifying the “low hire, low fire” environment.&nbsp;</p>

<p><strong>LOCAL: </strong>Over 1.1 million minimum wage earners in Metro Manila will receive PHP 85 in daily wage increases to help cope with rising costs of living.&nbsp;</p>

<p><strong>Market impact: </strong>The PSEi and the peso retreated amid uncertainty regarding US-Iran negotiations.&nbsp;</p>

<p><strong>Because the wage hike is being implemented in two staggered tranches,</strong> the immediate inflationary impact is expected to be modest.&nbsp;</p>