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Public Markets

Last updated: May 12, 2026, 11:30 PM ET

Asia Equities & Monetary Policy

Asian currencies mostly consolidated against the dollar as investors digested the latest U.S. consumer price index data, which showed stronger-than-expected inflation in April. This inflation backdrop is influencing regional central banks, with the Bank of Japan’s policy rate now expected by the OECD to climb to 2% by the end of 2027, signaling a long path back to normalization. Meanwhile, South Korean stocks rapidly erased losses as domestic retail traders aggressively bought into dips, countering heavy selling pressure from foreign funds in the market.

Indian Market Pressures & Trade

The Indian equity market deepened its slump following the tech sector rout, even as S&P Global Ratings suggested that underlying economic strength is weathering foreign outflow fears better than headlines imply. To stabilize the rupee amidst global instability stemming from the Middle East conflict, India has more than doubled tariffs on gold and silver imports to curb demand for the precious metals. This broader regional tension is also exacerbating logistical issues domestically, where a diesel crunch has left nearly 30 trucks stranded roadside near Nagpur, disrupting the movement of goods like garments and snacks.

Fixed Income & Corporate Strategy

Japanese government bond yields continued their ascent, tracking firmer movements in U.S. Treasuries after the inflation release, pushing the 20-year JGB yield to its highest close since 1997 amid ongoing inflation concerns driven partly by rising energy costs. In the resources sector, the incoming CEO of BHP Group, Brandon Craig, indicated the mining giant remains open to pursuing external deals as a central component of its future growth strategy. Elsewhere, analysts anticipate that Australia’s latest budget will pressure consumer stocks due to unveiled tax changes, although bonds may find longer-term stability following an initial selloff.

Geopolitics & Security Shifts

Geopolitical flashpoints are forcing nations to reassess security postures, with New Zealand’s Prime Minister Christopher Luxon asserting that the nation can no longer rely on its geographic isolation for safety and must actively boost national resilience. Simultaneously, maritime passage through the Strait of Hormuz remains precarious; Tehran has expanded the strait's definition since the war began, leading experts to report that vessels are traveling without transmitting vital safety data, making safe passage a gamble. In response to regional instability, emergency logistics routes involving massive truck convoys have been established across Saudi Arabia, the U.A.E., and Oman to circumvent the Strait.

US Politics & Regulatory Matters

In US political developments, a primary race in Nebraska saw Cindy Burbank announce her intention to exit the general election, clearing the path for independent Dan Osborn to challenge incumbent Republican Senator Pete Ricketts. Regarding pending litigation, Justice Department officials are considering a settlement in President Trump's suit against the IRS, which reportedly includes dropping any ongoing audits of the former president and his businesses. Separately, a 2027 defense proposal for space-based interceptors under former President Trump’s missile defense plan could cost an estimated $1.2 trillion, consuming 60% of the total expenditure for non-existent technology, according to the Congressional Budget Office.

Private Equity

Last updated: May 12, 2026, 11:30 PM ET

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Sector Investment

Last updated: May 12, 2026, 11:30 PM ET

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