Public Markets
Last updated: August 21, 2026, 10:30 PM ET
Markets Overview
U.S. stocks rose Friday as U.S. stocks climbed alongside a surging bitcoin, though the S&P 500 still ended the week with a loss. Stock Market Today showed yields steady as investors shrugged off Treasury efforts to curb borrowing costs. The Nasdaq 100 looked to snap a five-day losing streak after data showed bustling business activity. Stocks and bonds steadied at the end of a tumultuous week, with fears about the war in Iran, deficits, the economy and corporate borrowing stirring global markets. European stocks gained the most since early August after stronger-than-expected business activity data, while the Stoxx 600 was lifted by banks at the open. FTSE 100 futures were steady and the pound climbed. Buyback plans were brushed off, with Walmart results adding gloom on the consumer.
Fixed Income & FX
Scott Bessent's bond buyback failed to calm the market for long, and bond yields rose despite Treasury efforts to curb borrowing costs. The week of whiplash in Treasuries closed with a muddied outlook. Bessent dissent grew as his moves were interpreted as an effort to control yields, and bond vigilantes dismissed the $32tn market intervention as a 'band-aid on a bullet hole.' Scott Bessent vowed to use a 'big tool kit' to restore calm, but Nellie Liang said the goal is to signal that high rates are a concern. Goldman Sachs argued cooling inflation remains the best path to lower yields. For investors, high-quality bonds are still safer than stocks but they have been swinging in value. Index funds went from mocked to feared over 50 years, and money-market funds are providing stock market rocket fuel. Ray Dalio said sell bonds and buy gold and bitcoin as a debt crisis looms. Darrell Duffie discussed Fed balance-sheet reform, while JPMorgan and Goldman are among the most bullish on Europe. European stocks just had their best earnings season in years. Jackson Hole is a bigger risk than Nvidia, according to Allspring's Ann Miletti, and the Fed's Jackson Hole gathering is on course to be one of the most interesting in years. BofA's Hartnett sees pressure on risk assets if the bond plan fails.
On currencies, the WSJ Dollar Index fell 0.74% this week to 95.33, and the South African rand strengthened below 16 per dollar. The dollar weakened as the US buyback pledge drew Japan. Gilts were snapped up by retail investors after the sell-off.append Australian bond futures positions neared records on hedging demand, and Kangaroo bonds are attracting borrowers like Alphabet. India's bond market. The bond scare is bringing the link between power and fiscal capacity. FirstFT noted Bessent's buyback lifted gold and bitcoin, while Samsung plans to return $80bn to shareholders.
Commodities
Gold climbed back above $4,600 and Comex gold ended the week 5.56% higher at $4,624.10. Gold and Bitcoin rallied together on debasement fears. Oil and futures posted weekly gains as the US-Iran conflict remained unresolved. European diesel shorts were cut to a two-year low. Natural gas futures posted a small weekly gain, and U.S. natural gas rose on intensifying heat. Energy & Utilities firms and Solar featured in the roundups. Crop prices soared on wild weather. Dark tankers in the Gulf raise spill risk. Iranian oil supply to China is being squeezed. Oil refineries face further losses. Brassand Debt talks drag. Dangote offered East African nations a 30% stake in a refinery. Houthis remain a threat. Climate risk is starting to press on insurance.
Crypto
Bitcoin surged more than 9% to a peak of $79,455 on institutional demand. Bitcoin and gold surged as Bessent's intervention hit the dollar. Binance faces new scrutiny. Alibaba and Bitcoin were featured in the tech roundup. Debasement trade got new life from Bessents' bond maneuvers.
Equities
Boeing engineers rejected a contract and authorized a strike. Fannie Mae is hit by turmoil as roughly 12 executives were let go. BJ's Wholesale raised its profit outlook. Walmart is lowering prices, while Walmart's e-commerce sales rose 24%. Nibe Industrier shares rose 8% on heat-pump demand. Pearson executive cashed in as digital growth boosted shares. Costain was among stockpickers' choices. Nvidia is in talks with Cloverleaf Infrastructure. Samsung's buyback plan of up to $78.88 billion came amid the AI boom. Monte dei Paschi made a $40 billion move to buy rival banks, and twin takeover bids would create a €70bn Italian bank. Citadel offloaded 80% of a portfolio. HSBC spent $68mn on a cull of senior bankers. National Australia Bank is cutting jobs. Argenx soared on trial success. York Space Systems saw Wall Street turn sour after a 73% rout. WuXi AppTec became a top short target. Hyundai union launched its first full-day strike in a decade. GM faces safety probe. Apollo reported a data breach. T. Rowe Price says Nigeria remains attractive. Memory stocks struggle for momentum, while old-economy stocks AI rally looks stretched. Asia's smaller AI firms are leading EM's bounce and Hang Seng added Hua Hong and Weichai. MilDef rallied 80% on battlefield tech. DayOne sought a loan for a data center. Dexmal seeks $3 billion value. YMTC plans a $4.9 billion Shanghai IPO. Shein struggles ahead of an IPO. Anthropic has risks for IPO. Wonder targets an IPO with a $9bn platform. London cabbies plot against robotaxis. Golf tycoons are taking a swing. Big Law recruiting is starting early. Jane Street is a firm whose question matters more than the answer. Waymo doubled lobbying spending. Erik Prince launched an air-defence company, and Vectus Air Defense is his latest venture.
Regulation & Legal
TikTok settled with U.S. over child privacy concerns for $40 million. The SEC accused ex-Bof A banker Jason Satsky, and Satsky helped a friend make $18.5mn. Alex Jones had a court slash a Sandy Hook award to $6 million. Prince Harry and others were told to pay Retail, and Daily Mail publisher will receive £9.5mn. Uber faces an €825mn fine. The MLB labor drove record short interest in the Braves. FCC is scrutinizing an ABC station move. Rent freeze case was moved, a win for Mayor Mamdani, whose second-home tax rollout has been rocky. Defamation suit was threatened over a National Guard report. Harvard is being cost by its fight. Online gun sales face opposition. Ghost job ads are target by lawmakers. Samuel Tunick says his case puts privacy at risk. Weil Gotshal partners are in talks to leave. Jessica Ramos(spirit) was accused of double-billing. Lindsay Clancy trial defense rested.
Economy & Policy
Canadian retail sales slipped. The UK deficit reached £1.8bn, and he he has been warned to limit borrowing. Japanese inflation rose. India's economy edged up faster, and Poonam Gupta sees 7% growth. Back-to-school spending shows consumer trends. 401(k) tax is a problem. Flood insurance is needed. US techlash is real. Politicians turn against data centers. Jasmine Sun says AI got the backlash wrong, a theme on Odd Lots.
Politics & World
Stars and Stripes staff were fired. Turkey's request for arrest of Netanyahu escalated tensions. Liberia received $5 million from the U.S.. Equatorial Guinea took five deportees. Palestinian teenager was killed. White House ballroom construction was allowed. Ballroom stairs. Uzbekistan sent gazebos. Orbán's office was modest. Giorgia Meloni leads Italy's longest govt. Meloni's path from outcast to power. Kyiv is under siege. U.S.S. Lincoln begins journey. Alaska plane crash killed. Tornadoes struck NYC. Indiana residents face power outages. South American diseases offer pandemic clues. Civil war imaginings are warnings. Flock cameras raise surveillance questions. Lula leads Bolsonaro. Mexican governor returned. Iran's president calls to end war. Ghalibaf said Iran must counter sanctions. China's Iran strategy is resistance. Trump's Iran credibility is questioned. Canada-U.S. talks continue. Beef imports were widened. Beef import boost will help prices. US ranchers lashed out. Colorado River water cuts hit. India's nuclear opening has security bar. China Shock challenges U.S. industries.
Media & Culture
Meghan is in talks for 'The Gentlemen.' Harry and Meghan return renews security. Britons split on their return. Rosie O'Donnell ended her laugh night stint. Richard Gadd had not heard of the manosphere. Rachel Cuskette discusses her novel. The Life of M is called chilly. Patricia Douglas challenged Hollywood's culture. Bryan Johnson wants to live forever. Mark Zuckerberg bought an Irish castle. Miami's condo market is attracting car brands. Cruise lines are hiking fees. Looksmaxxing is captivating brands, and mogging is part of the jargon. College financial aid should not go to rich kids. Victor Niederhoffer died at, and Niederhoffer was known for big bets.
Private Equity
Last updated: August 21, 2026, 10:51 PM ET
Deals & Exits
A KKR-backed consortium has agreed to a $5.5bn take-private of Steadfast Group, Australia's largest general insurance broker network, which will be split between three US backers. Across the Atlantic, Advent and Bain are pressing to acquire 100% of Amil, one of Brazil's largest health insurers, at a valuation of roughly R$17bn ($3.3bn).
Arctos has agreed to buy a 10% stake in the Atlanta Falcons at an enterprise value of $10.6bn, marking one of the largest private investments in an NFL franchise. Meanwhile, CVC is preparing to bid for Aldermore, the UK challenger bank being sold by South African parent First Rand under the shadow of a motor finance mis-selling scandal.
Waterland has emerged as the latest bidder for Gamma Communications, the London-listed business telecoms group, reopening a contested takeover battle. And Carlyle is exploring a sale of Yipit Data, its alternative-data provider, that could value the business at more than $2.5bn.
Fundraising & Startups
AI accounting startup Rillet raised $100M and became a unicorn in just 48 hours, after CEO Nicolas Kopp's growth numbers at a board meeting sparked a fundraising frenzy from Iconiq, Sequoia and others. The week's largest financing went to Castelion, a defense tech startup developing hypersonic missiles, with other sizable rounds going to AI inference and video-creation companies.
This month's startup deal flow is dominated by AI, with applications ranging from recycling to breathing to winning construction bids.
Firm News & Governance
Charlesbank has appointed Brandon White and Sandor Hau as co-managing partners, with Michael Choe, who led the firm for 12 years, moving to managing partner emeritus. The DOJ is investigating a16z, which has two partners sitting on boards of competing companies — Ben Horowitz at Databricks and Martin Casado at Fivetran — raising questions about what the probe means for venture capital broadly.
Long Ridge Equity Partners has invested in Market Sphere Unclaimed Property Specialists, which helps enterprises manage unclaimed property compliance across US and Canadian jurisdictions.
Healthcare & Sector Plays
Revenue cycle management platforms are drawing PE interest from Carlyle, Longshore and Serent, while SEVA announced an investment in healthcare price transparency. That's part of a broader wave — eight specialty RCM deals have closed with Francisco Partners and New Mountain among the buyers.
In AI services, Ode, a San Francisco-based enterprise AI transformation company backed by Anthropic, has acquired AI services firm Casper Studios.
Secondaries & International
CV pricing is strengthening as new market entrants seek to pre-empt auction processes to "differentiate themselves," according to Lazard's Kevan Comstock. In Ireland, Phoenix Equity and Thoma Bravo are among firms betting on the market, with Exponent agreeing to invest in OFS, a provider of specialist technical services for the global power generation industry.
A record number of corporate venture capitalists are making repeat bets on European robotics startups. Meanwhile, when asked to name Europe's "top" VCs, Claude and ChatGPT came up with some left-field picks.
A legal dispute has emerged at the Monaco banking venture founded by Monzo's cofounder. And a cautionary note for founders: tech shortcuts taken early in a startup's life can come back to haunt it later.
Sector Investment
Last updated: August 21, 2026, 10:50 PM ET
Healthcare Private Equity
SkyKnight Capital has entered a definitive agreement to invest in Apex Infusion, a specialty infusion services provider. The deal underscores continued private equity appetite for high-acuity outpatient care platforms amid a busy healthcare dealmaking stretch.
Infrastructure Investment
South Korea's NPS posted infrastructure AUM growth of 13.4% in 2024, down sharply from 24.2% a year earlier. The deceleration signals a more cautious deployment environment as the pension fund navigates elevated valuations and intense competition for core infrastructure assets.