Public Markets 3h Briefing
×Energy & Commodities
European bonds bloomberg.com saw stabilization last just one day as the energy crisis quashes rate-cut bets. Adani Total Gas bloomberg.com tripled prices for industrial consumers beyond 40% of their daily allocation as Middle East conflict squeezes fuel availability. Saudi Arabia wsj.com began shifting crude exports to the Red Sea's Al-Muajjiz terminal, with about 10 million barrels loaded in the first four days of March. The Canadian dollar has become a top pick in the $9.5 trillion foreign exchange market due to its link to oil prices as the war in the Middle East grinds on bloomberg.com.
Market Performance
South Korea's Kospi bloomberg.com bounced nearly 10% after an Iran-driven rout, leading a recovery in emerging-market equities. JD.com wsj.com posted its first quarterly loss in more than three years as the food-delivery subsidy war in China continued to take a toll. Eurozone retail sales wsj.com declined unexpectedly in January, pointing to fragility in household sentiment even before this week's surge in energy prices. The euro is sliding as a surge in oil and natural gas prices calls attention to Europe's vulnerability: when energy gets expensive, the region's trade balance deteriorates and the currency tends to retreat bloomberg.com.
Corporate & Financial Services
Banks bloomberg.com are issuing significant risk transfers at a record pace as they use the tool to hedge a wider range of loans, including leveraged buyouts and fund financing. High-grade firms bloomberg.com are offering Europe's first corporate debt deals in a week as activity cranks up following several days of near standstill due to conflict in the Middle East. USA Rare Earth bloomberg.com is planning to acquire the remaining minority interest of a Texas rare earth deposit in an all-stock transaction that values the deal at about $73 million.
Technology & Innovation
Nvidia partner Hon Hai finance.yahoo.com saw sales climb 22% in the global AI buildout. Broadcom's AI business wsj.com is booming, though the rest of its operations remains complicated. DoorDash wsj.com is putting social at the heart of marketing with help from Ziwe, Rob Rausch and Duolingo's former social-media manager. Revolut ft.com applied for a US banking licence in its push to crack the American market, influenced by the Trump administration's willingness to permit new players.
Policy & Regulation
The European Central Bank should avoid knee-jerk reactions to the war in Iran and stick to its data-focused approach to setting interest rates, according to Governing Council member Olli Rehn bloomberg.com. The ECB is monitoring the impact of surging energy costs due to the Iran war extremely carefully and will consult projections to decide whether action is needed, according to Governing Council member Joachim Nagel bloomberg.com. UK Prime Minister Modi bloomberg.com stressed dialogue and diplomacy after the US sank an Iranian warship, saying military conflict cannot resolve problems.