Public Markets 3h Briefing
×Last updated: March 13, 2026, 4:31 AM ET
Energy Markets
Oil prices held above $100 wsj.com as Middle East tensions persist, with Brent crude trading near $101 amid concerns over potential supply disruptions through the Strait of Hormuz. Japan's trade minister announced plans to sell national oil reserves bloomberg.com at pre-war prices to help stabilize domestic markets, while Algeria's government celebrated higher revenues bloomberg.com from the price surge, hoping the windfall will bolster its struggling economy. The Strait of Hormuz remains a critical chokepoint, with analysts warning that any closure could send prices spiking wsj.com toward $150 per barrel.
Currency Markets
The euro fell to August lows bloomberg.com against the dollar as the conflict escalated, while the South African rand faces pressure from Goldman analysts who warn that prolonged oil prices could force rate hikes bloomberg.com to combat inflation from a weaker currency. In contrast, China has strengthened the yuan fixing bloomberg.com for a record 15th consecutive week, demonstrating Beijing's commitment to currency stability despite regional volatility. The Thai baht weakened as economists projected that conflict lasting three months could halve growth bloomberg.com, citing triple threats from tourism declines, export softness, and energy price spikes.
Equity Markets
Indian stocks approached a technical breakdown bloomberg.com as the benchmark index neared a critical long-term support level, intensifying pressure from surging oil prices that threaten corporate margins across the economy. Meanwhile, Germany's chemical sector warned of output cuts bloomberg.com as supply chain disruptions ripple through Europe's largest economy, with companies already dialing back production in response to the crisis. In Vietnam, foreign investors threatened legal action bloomberg.com over a long-running dispute regarding payments to renewable energy projects, adding to market uncertainty in Southeast Asia.
Fixed Income
German government bonds rallied alongside Treasuries bloomberg.com as investors sought safe-haven assets amid escalating geopolitical risks. The yield on 10-year bunds fell to 2.15%, reflecting growing expectations that the European Central Bank may need to reassess its tightening cycle bloomberg.com if the conflict dampens economic growth. In the UK, FTSE 100 futures remained steady bloomberg.com while the pound weakened ahead of crucial GDP data, with traders positioning for potential monetary policy implications from the latest economic indicators.
Initial Public Offerings
Hong Kong's securities regulator announced plans to expand its "name-and-shame" list bloomberg.com to include law firms and auditors involved in sloppy IPO applications, part of a broader campaign to improve listing quality on the exchange. The move comes as Vincorion approached a $1 billion market cap wsj.com under its IPO price, with the German company setting a share price of €17 and targeting up to €345 million in offerings. Meanwhile, India's National Stock Exchange opened doors for shareholder sales bloomberg.com as part of its planned IPO, potentially allowing thousands of existing shareholders to monetize their holdings under regulatory requirements.
Trade & Supply Chains
Thailand's rice exports to the Middle East were halted bloomberg.com as the conflict disrupted shipments to the country's largest grain market, further straining farmers already grappling with rising costs and reduced demand. The petrochemical industry across Asia faces deepening crisis as Japan and South Korea confront shortages of key plastic components ft.com, with Gulf supply shocks threatening to paralyze manufacturing sectors dependent on these inputs. Romania's inflation slowed as expected bloomberg.com, but economists warn that surging global energy prices could reverse this trend, preventing the central bank from easing monetary policy despite lower domestic price pressures.
Geopolitical Developments
The United States granted a temporary waiver allowing the purchase of approximately 19 million barrels of Russian crude oil on about 30 tankers already at sea in Asian waters, potentially freeing up significant supply bloomberg.com to help offset Middle East disruptions. This waiver, combined with reports that the US plans to ease Russian oil sanctions ft.com, suggests a strategic shift aimed at preventing energy prices from spiraling higher. The developments underscore the complex balancing act facing Western policymakers as they navigate between supporting Ukraine and managing domestic inflation risks from energy markets.