<p><strong>GLOBAL: US forces conducted targeted strikes on Iranian oil vessels near Kharg Island,</strong> Iran’s most critical oil refining and export hub, prompting Iran to launch missile barrages.&nbsp;</p>

<p><strong>Market impact: Oil prices and Treasury yields rose while stocks fell</strong> following US strikes near Iran’s Kharg Island.</p>

<p><strong>The tit-for-tat strikes have triggered threats of a broader regional war.</strong> Iran warned that further strikes on Iranian vessels would be met with force against US interests in the Middle East.&nbsp;</p>

<p><strong>LOCAL: The unemployment rate climbed to 6% in July, its highest level since June 2022. </strong>The primary driver is an influx of new job seekers, specifically fresh graduates transitioning from school to work.</p>

<p><strong>Market impact: The PSEi gained on selective buying, </strong>while the peso dropped to a record low of PHP 62.625 per US dollar amid surging oil prices.&nbsp;<br>&nbsp;</p>

<p><strong>The “graduation effect” will linger into the third quarter</strong> as the economy continues to absorb the 1.33 million young Filipinos who recently entered the labor force.</p>