<p><strong>GLOBAL: The US and Iran are exploring a phased agreement to ease tensions, </strong>reopen the Strait of Hormuz, and roll back restrictive measures that have disrupted regional trade and energy markets.</p>

<p><strong>Market impact: Oil prices stabilized as the US and Iran explore a phased agreement. </strong>US Treasury yields climbed amid expectations of further Federal Reserve (Fed) tightening, while equities were largely unchanged.</p>

<p><strong>However, major challenges remain. Both countries may resist compromises, </strong>and past diplomatic efforts have often stalled over disagreements on implementation.</p>

<p><strong>LOCAL: The government is set to offer a new Retail Treasury Bond (RTB), consisting of 2.5-year bonds maturing in April 2029, </strong>with the public offer period from September 29 to October 7 and settlement on October 12.</p>

<p><strong>Market impact: The PSEi declined on growth concerns, </strong>while the peso weakened amid a hawkish Fed.</p>

<p><strong>National Treasurer Sharon Almanza said that the government plans to raise less than half of the proceeds generated from its August 2025 RTB issuance, </strong>which raised PHP 507.16 billion through five-year bonds.</p>