<p><strong>GLOBAL: The US and Iran are making progress toward an agreement to reopen the Strait of Hormuz,</strong> presenting a potential breakthrough in the ongoing regional conflict.</p>

<p><strong>Market impact: Oil prices extended a two-day decline amid optimism about a potential agreement, </strong>pushing US equities to record highs.</p>

<p><strong>US Treasury Secretary Scott Bessent said an agreement to end the blockade could be secured by today. </strong>However, Iran has downplayed the breadth of the negotiations.</p>

<p><strong>LOCAL: Transactions on foreign investments recorded a net inflow of USD 170.12 million in June,</strong> despite lingering volatility. Investor preference strongly favored government debt over equities.</p>

<p><strong>Market impact: The peso depreciated to the 61-per-dollar range amid uncertainty surrounding US-Iran negotiations,</strong> while the PSEi declined to the 6,200 level as investors locked in gains.</p>

<p><strong>The BSP projects 2026 foreign portfolio investments to end with a USD 1.8 billion net inflow,</strong> down from USD 3.7 billion in 2025, due to interest rate shifts and geopolitical developments.</p>