Public Markets 3h Briefing
×Market Moves
Asian government bonds sold off wsj.com Tuesday amid fears that the Middle East conflict will drive inflation and faster interest-rate increases. The Iran war is rekindling inflation concerns bloomberg.com across financial markets, sapping the outlook for global bonds that had just posted their best start to a year since the pandemic.
Asian stocks fell for a second day bloomberg.com as tensions remain high, with South Korean stocks slumping bloomberg.com the most in four months on Middle East risk. Coal prices bloomberg.com jumped the most in three years as Qatar's LNG plant shutdown increased fuel-switching needs.
Commodity Impact
Aluminum bloomberg.com edged up after President Trump suggested the military campaign against Iran could last weeks, raising the risk of deeper disruptions to global supplies. Philippine President Marcos said bloomberg.com his country has ample oil stockpiles, while Malaysian energy giant Petronas bloomberg.com has seen no direct impact on operations.
AI & Tech Markets
MiniMax investing.com surged as AI revenue soared in its first results since Hong Kong IPO. Chinese artificial intelligence companies have opened up a gap bloomberg.com in analyst coverage as brokerages struggle to keep up with the breakneck pace of debuts. Meanwhile, OpenAI ft.com made changes to its "opportunistic and sloppy" Pentagon deal.
Currency Developments
The yuan rallied most bloomberg.com in 10 months as the People's Bank of China signaled comfort with the currency's appreciation. Singapore bloomberg.com is intensifying efforts to become a regional gold hub, tapping JPMorgan Chase and UBS Group to help boost liquidity.