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Public Markets

Last updated: August 10, 2026, 8:38 AM ET

Global Equities

European markets were mixed in early trade with the Stoxx 600 and Germany’s DAX extending record highs, while the FTSE 100 and CAC 40 slipped. U.S. stock futures ticked higher, signaling a continued rally after blockbuster earnings from the largest U.S. companies eased fears about AI spending and inflation. Indonesian stocks neared bull-market territory as investor sentiment improved on a resilient economy. South Korean small caps surged 30%, driven by rotation from leveraged ETFs tracking heavyweight chipmakers. Tractor Supply shares hit record highs after strong earnings, while the company cuts prices and slows expansion to engineer a rebound. Stock funds are up 10.6% so far in 2026 despite a turbulent month, as tech stocks remain volatile on AI expectations.

Energy & Commodities

Oil prices climbed as hopes for a breakthrough in the Strait of Hormuz faded, with Iran hardening its demands. European TTF gas rose more than 5% on shipping concerns ahead of winter. Gold rallied above $4,300 an ounce, driven by ETF inflows and central bank buying, with futures holding above $4,400 ahead of U.S. inflation data. Wheat hit its highest level this month on supply disruptions in the Black Sea. Record-low Danube levels are straining a vital route for Black Sea grain exports. Australia’s wheat crop is rebounding at a crucial time for global supply. Adnoc Gas will invest more than $8 billion in expansion and is exploring a new LNG export plant to bypass the Strait of Hormuz. The U.S. pledged $2 billion for battery and materials producers.

Fixed Income & Rates

Eurozone government bond yields rose slightly amid Middle East uncertainty. U.S. inflation data due Wednesday is expected to influence the euro and rate-hike bets. Treasury Secretary Scott Bessent is signaling he is eager to keep bond yields from spiking. The leveraged ETF boom is fueling intraday momentum plays in tech stocks. Private credit is under growing strain, with default rates hitting recent highs. Meiji Yasuda Life is watching policy surrenders as rising interest rates prompt customers to shift products.

Currencies & Sovereigns

The euro was flat against the dollar after reaching a seven-week high, with U.S. CPI data potentially lifting it above $1.16. The yen underperformed G-10 peers as the boost from intervention faded. The Australian dollar is poised to climb toward a 35-year high against the yen. India’s FX reserves climbed toward a record on foreign inflows. Emerging-market stocks and currencies gained after soft U.S. jobs data. Egypt’s headline inflation quickened for the first time since March. Hungary’s central bank renewed support for joining the euro area. Indonesia nominated Destry Damayanti as central bank chief to calm markets. The Philippine central bank kept a rate hike on the table. The Bank of Japan faces pressure after a weak U.S. jobs report.

M&A and Corporate Finance

Cloudflare plans to sell $2.175 billion in convertible notes after its guidance boost. Teledyne Technologies will buy Varex Imaging for $1.1 billion. Duke Energy seeks $1.75 billion in an equity units offering to pay down debt. An AI startup backed by Palmer Luckey is set to raise $1.5 billion, valuing it at $8 billion. UK missile and drone interceptor start-up Cambridge Aerospace raised $300 million at a $3.4 billion valuation. Barrick and Newmont reached a truce clearing the way for a gold IPO. Shein is valued at $22 billion to $25 billion ahead of its IPO. DatVietVAC advances its Vietnam IPO. Todd Boehly’s Eldridge is rolling out AI across Chelsea and A24.

Tech & Financial Infrastructure

Meta unveiled Muse Glimmer, an open-source AI model that can be freely modified. Mark Zuckerberg attacked closed AI rivals as Meta returns to open models. China bets on AI stocks to race against the U.S. for chip and tech dominance. Apple is testing China’s CXMT memory chips for iPhones amid an AI-driven chip crunch. Revolut won a French banking license to accelerate European expansion. The U.S. regulator rejected Dutch fintech Bunq’s banking license application over supervisory concerns. High-frequency traders are shunning India’s stock closing auction over SEBI’s short-selling hurdle. London needs capital to revive its struggling public markets, LSE’s deputy CEO said. London plots digital gold pivot to protect bullion trading. Private equity is stuck with 33,575 unsold businesses, unable to exit investments.

Regulation & Policy

Iran is pushing for a return to the June MOU over the Strait of Hormuz. Tehran says the U.S. must meet new conditions before reopening the strait. Iran’s demands are disrupting Trump’s plan to end the war. Israel rejected Trump’s 15-point plan to disarm Hamas. Prime Minister Burnham promised to tackle “rip-off” discounts and subscription traps. Italy fined A2A SpA €5 million for power market manipulation in 2022. Australia widened orders on Chinese investors in a rare earths firm. The FCC is moving to scrap broadcast ownership caps.

Geopolitics & Defense

A Ukrainian drone attack on an industrial city in Russia killed at least, one of the deadliest strikes on Russian territory. The U.S. backs Australian rare earth miner Sunrise Energy with a $400 million loan to cut out China. Europe faces a rocket launcher shortage by 2030, the space agency chief warned. Taiwan is betting on drones to deter a Chinese invasion. China sails its “Ice Silk Road” through the Arctic, bypassing shipping chokepoints. The Iran war timeline shows key moments in the U.S. and Israel’s campaign.

Earnings & Corporate Strategy

U.S. consumer brands say chicken, soap and snacks are selling better overseas, outpacing domestic growth. Gucci is breaking luxury’s penny-pinching taboo by lowering prices to attract new buyers. Treasury Wine shares soared after a $395 million writedown to tackle U.S. supply issues. Westpac shares dropped as mortgage loan applications fell. Jetstar and Qatar Air near miss at Sydney triggered a safety probe. John Lewis boss Peter Ruis stepped down amid “really tough” trading.

Industry Trends

War is helping Chinese EVs upend the global car market, as high gasoline prices boost exports. Crypto investors who dropped bitcoin have pivoted to AI stocks. America is atomizing into a nation of us versus them. Data-center backlash is leading to a land rush in the Texas oil patch. AI agents are taking entire online courses for cheating students, raising questions about online degrees.

People & Culture

Amanda Knox took the mic at the Edinburgh Fringe to reclaim her story. Ben Jones, ‘Dukes of Hazzard’ actor and congressman, died at. Dr. Maura L. Gillison, who linked throat cancers to HPV, died at. The Hallmark Channel knows all about love. AOC said she is freezing her eggs and still mulling a presidential run. Samsung engineers are suddenly the hottest bachelors in South Korea.

Other Notable Events

Malaysia’s Anwar lost a third lawmaker this year in a party exodus. Lake Mead hit record lows, imperiling water supplies and electricity. Flock cameras, used by thousands of law enforcement agencies, have drawn intense criticism. Flock Safety cameras can track every car in America, and citizens don’t like it. The Hall of Fame Village project in Canton, Ohio, faltered after the NFL backed out. Malaysia was confident in its social media ban, but kids are still logged in. Flight canceled after a child refused to be seated on Porter Airlines. A mother and daughter died after a boat overturned in New York Harbor. Extreme heat comes for the red chile capital of Pakistan. Málaga’s mayor transformed the city into a culture hub, but critics say he spoiled it.

Private Equity

Last updated: August 10, 2026, 8:46 AM ET

Fundraising

Brookfield Asset Management gathered a record $77bn of capital in the second quarter, drawing on its private equity, infrastructure, and credit franchises. That blockbuster haul stands in stark contrast to the broader market: dealflow wilted, posting its worst Q2 since 2020 as macro turbulence returned. Meanwhile, Korea's Employment Insurance Fund plans to commit 120bn won to blind-pool private equity and venture capital funds for 2026.

Deals and Exits

I Squared Capital agreed a $733m take-private of oOh!media, the Australian out-of-home advertising operator, paying a 100% premium on equity. In infrastructure, VSS closed a minority stake in Cordoba, betting on an asset class AI cannot displace, according to principal Sai Parepally. Revolut secured a French banking licence, strengthening its European foothold in private markets.

Venture Capital and Unicorns

A wave of major AI IPOs could return significant liquidity to LPs, potentially fueling a new venture fundraising cycle rather than just moving public-market valuations. Already, global unicorn counts in H1 2026 hit 195 new additions, surpassing full-year 2025 totals. The UK’s AI ecosystem faces uncertainty after a DeepMind shakeup tests the nation’s ambitions, with DeepMind’s future now critical for retaining tech leadership. In London, the former red-light district of King's Cross has emerged as a top AI hub. Meanwhile, Nabla’s new CEO Brian Manning insists the AI healthtech company is “not here to be acquired.”

Regional Spotlight

An entrepreneurial ecosystem is drawing dealmakers to Spain’s mid-market, where family-owned businesses approach succession decisions and seek external capital to professionalise and scale internationally.

Sector Investment

Last updated: August 10, 2026, 8:48 AM ET

Sector Investment

Brookfield garnered $9.3bn for Fund VI, while Ares’s debt fund reached $3.7bn and KKR made a €1.8bn European renewables play.