.jpg)
Overseas news
Major US stock indices rallied on Monday with the Dow Jones Industrial Average (Dow) hitting a record high. This happened as energy and financial shares surged after the US military captured Venezuelan President Nicolás Maduro.
The Trump administration is reportedly planning to meet with US oil executives this week to discuss boosting Venezuela’s energy production and reclaiming operations seized nearly 2 decades ago.
Venezuela has the world's largest known oil reserves, but production is inhibited by factors such as sanctions and limited foreign investment.
Oil is an important resource since it plays a big part in manufacturing and transporting goods. Changes in oil prices can directly and indirectly affect businesses and consumers around the world.
Local developments
The Philippine government has lowered its growth targets for 2026 and 2027 as corruption issues and global uncertainty are expected to continue affecting economic performance.
Secretary Arsenio Balisacan announced that targets have been revised to 5%-6% for 2026 and 5.5%-6.5% for 2027. The government previously aimed for a 6-7% growth for both years.
Secretary Balisacan heads the Department of Economy, Planning, and Development (DepDev).
Meanwhile, the Philippine peso dropped to its weakest level in nearly a month as it closed at P59.13 against the dollar on Monday. Investors likely moved to safer assets like the US dollar following the US military action in Venezuela.
Additionally, the Bureau of the Treasury (BTr) raised its award of Treasury bills to P34.2 billion on Monday, exceeding its target of P27 billion. Strong demand was seen as total bids reached over 4 times the initial offer at better rates than market benchmarks.
The government sells debt securities such as Treasury bills and bonds to raise money for public works and other projects. Such offerings may become more attractive when investors seek safety or when interest rates are favorable.
With uncertainty in the news, it might be ideal to remain cautious with your investing decisions and stay liquid in the meantime.
