<p><strong>GLOBAL: US President Donald Trump called off planned US airstrikes against Houthi targets,</strong> rejecting Saudi Arabia's appeal. Officials cited concerns about a widening Middle East conflict and the strain on US munitions stockpiles.</p>

<p><strong>Market impact: US Treasury yields dipped amid a tentative improvement in risk sentiment,</strong> while equities rallied on AI gains.&nbsp;</p>

<p><strong>Despite this, the US continues to provide support to Saudi Arabia, </strong>recently approving a massive arms sale that includes advanced fighter jets.</p>

<p><strong>LOCAL: The Department of Energy (DoE) has announced that domestic pump prices are expected to stay well above their pre-war levels </strong>until at least the end of 2026.</p>

<p><strong>Market impact: The PSEi and the peso experienced further depreciation</strong> due to the Middle East conflict.</p>

<p><strong>Metrobank projects inflation to stay above the BSP’s 3±1% target for the rest of the year,</strong> driven by upside risks such as the Middle East conflict and Super El Niño.&nbsp;</p>