<p><strong>GLOBAL:</strong> The US military launched a second consecutive night of heavy airstrikes against targets inside Iran. The wave of attacks utilized fighter jets to hit key Iranian infrastructure.</p>

<p><strong>Market impact:</strong> Oil prices surged as fresh US strikes on Iran rattle energy markets. Meanwhile, US stocks declined due to the fading momentum.</p>

<p><strong>Highly volatile escalations will likely continue in the immediate term,</strong> with the US military prepared to launch attacks if Iran does not soften its stance at the negotiation table.</p>

<p><strong>LOCAL: </strong>Foreign Direct Investment net inflows into the Philippines surged by 26.1% year-on-year to USD 611 million in March, driven by low base effects and a lift in equity and inter-company funding flows.</p>

<p><strong>Market impact:</strong> The PSEi declined due to fresh US-Iran strikes. Meanwhile, the peso strengthened before the release of US CPI data.</p>

<p><strong>In the near term, inflows would highly depend on the domestic macroeconomic landscape and developments in the Middle East,</strong> which will continue to weigh on investor sentiment.</p>