<p><strong>GLOBAL: US Secretary of State Marco Rubio told lawmakers Tuesday that President Trump’s team has not offered Iran sanctions relief </strong>for reopening the Strait of Hormuz unless Iran abandons its nuclear program.&nbsp;</p>

<p><strong>Market impact: The Dow rose 0.45%, the S&amp;P 500 gained 0.13%,</strong> and the Nasdaq edged up 0.03% on Tuesday as AI-fueled optimism lifted markets, but was offset by geopolitical strains from US-Iran talks.&nbsp;</p>

<p><strong>Rubio testified at the Senate Hearing following the Trump administration's request to reduce the foreign affairs budget by 30% to USD 36 billion</strong> while increasing military spending by 50% to USD 1.5 trillion.&nbsp;</p>

<p><strong>LOCAL: The Bureau of the Treasury reported that national government debt slipped 0.09% to PHP 18.47 trillion in April,</strong> as domestic repayments outweighed the peso’s depreciation impact on foreign obligations.&nbsp;</p>

<p><strong>Market Impact: The peso strengthened to PHP 61.675 per dollar on Tuesday, gaining 7.10 centavos</strong> as attention shifted to upcoming economic data expected to highlight the impact of the Middle East crisis.&nbsp;</p>