Public Markets 3h Briefing
×Energy Markets
Oil prices bloomberg.com held gains as traders brace for fresh attacks in the Middle East. The US and Israel stepped up their war against Iran, while Tehran threatened to close the Strait of Hormuz. LNG producers ft.com including Venture Global and Cheniere Energy are rushing to bring on extra capacity as the conflict risks causing shortages in Europe and Asia.
Market Moves
Defense stocks bloomberg.com surged Monday as military attacks escalated across the Middle East. Asian stocks bloomberg.com opened lower as oil price surges fueled inflation concerns, sinking bonds and prompting traders to scale back bets on interest-rate cuts. Gold wsj.com edged higher amid the ongoing Middle East conflict as investors sought safe-haven assets.
Deals & Finance
Thoma Bravo bloomberg.com is nearing a deal to acquire WWEX Group to create a $12 billion shipping technology firm. Magellan Financial Group bloomberg.com shares surged the most in about 20 years after agreeing to buy Barrenjoey Capital Partners in a deal valued at A$1.6 billion. Blackstone ft.com flagship private credit fund was hit with redemptions as investors pulled net $1.7bn out over the first quarter.
Central Banking
Treasuries bloomberg.com rout shows Iran conflict reigniting inflation worries in the $30 trillion market. Investors see the risk of a protracted conflict in the Middle East that keeps crude prices elevated, forcing haven demand to resurface.