Public Markets 3h Briefing
×Market Moves
Ares Management bloomberg.com closed an $850 million continuation fund for Convergint. JPMorgan CEO Jamie Dimon bloomberg.com warned that inflation could become a "skunk at the party" for the US economy. Top Australian pension funds bloomberg.com are rushing to hedge against the surging Aussie dollar as it threatens portfolio returns.
Geopolitical Impact
Iranian drones yahoo.com buzzed across the Persian Gulf following their pivotal use by Russia in Ukraine. Qatar's Ministry of Defense bloomberg.com downed two Iranian Su-24 jets in the first crewed aircraft destruction since fighting began. The Iran conflict wsj.com is delaying shipping's return to the Suez Canal as vessels and crews remain stuck in the Persian Gulf.
Safe Haven Flows
Municipal bonds bloomberg.com offered investors shelter as the Iran war escalated. US natural gas exporters bloomberg.com stand to gain from supply disruptions amid the Middle East conflict. Canada's economic outlook bloomberg.com could see boosted growth and inflation from sustained oil price rises.
IPO Markets
SoftBank's PayPay bloomberg.com delayed the start of formal marketing for its US IPO. UAE aluminum maker Emirates Global Aluminum bloomberg.com is considering using offshore stocks to avoid ship-loading delays caused by the Iran war. Restaurant Brands investing.com unveiled a simplification plan and Burger King turnaround strategy to boost growth.
Legal & Regulatory
Trump ft.com will drop battles against law firms over punitive executive orders. A judge yahoo.com nixed a policy requiring seven days' notice for Congress members to visit ICE facilities. FICO Score 10T wsj.com was recommended by Fannie Mae and Freddie Mac after extensive credit-scoring analysis.