<p><strong>GLOBAL: </strong>US Vice President JD ‌Vance claimed that US-Iran talks made progress, with mechanisms set to keep the Strait of Hormuz open and Tehran agreeing to nuclear inspections, mechanisms to handle frozen assets, and ceasefire agreements.&nbsp;</p>

<p><strong>Market Impact: </strong>Oil prices continue to decline. US stocks edged lower as markets assessed US‑Iran developments, with losses led by megacap technology stocks.&nbsp;</p>

<p><strong>Optimism over a more durable US‑Iran deal is supporting sentiment, </strong>with initial talks reportedly showing significant progress. Markets are likely to remain cautious, awaiting signs that momentum can be sustained through the 60‑day negotiation period.&nbsp;</p>

<p><strong>LOCAL: </strong>The Philippine government lowered its growth target to 3.5%–4.5% this year from the previous 5.0%–6.0%, according to Department of Economy, Planning, and Development Secretary Arsenio Balisacan.&nbsp;</p>

<p><strong>Market Impact: </strong>The PSEi fell back to the 6,000 level while the peso’s slide back toward the PHP 61 range, owing to cautiousness amid the Middle East tension, further weighed on sentiment.&nbsp;</p>

<p><strong>Growth is expected to remain subdued,</strong> with inflationary pressures lingering despite optimism over US‑Iran negotiations.&nbsp;</p>