Public Markets 3h Briefing
×Last updated: March 13, 2026, 11:30 AM ET
Equity Markets
US stocks climbed bloomberg.com at the opening bell as tepid economic data reinforced expectations for a Federal Reserve rate cut, even as traders monitored Middle East conflict headlines. This resilience contrasts with warning signs bloomberg.com from JPMorgan, which noted the first signs of retail investor buyer fatigue as geopolitical tensions and inflation concerns dampen risk appetite. Meanwhile, the world’s largest asset manager is standing by bloomberg.com its bullish US equity outlook across its $220 billion model platform, arguing that geopolitical roils in asset classes create opportunities rather than derail the long-term thesis.
Fixed Income
US Treasuries advanced bloomberg.com with bond traders nearly pricing in one Fed rate cut this year after data revealed a more discerning consumer and weaker growth. In corporate credit, investment-grade bond sales bloomberg.com flirted with a record despite the Middle East war, rising yields, and private credit distress, demonstrating robust borrower demand. However, European airline bonds bloomberg.com are at risk as soaring jet fuel prices threaten earnings, with carriers only hedged for short-term disruption as the conflict persists. UBS Asset Management is betting bloomberg.com that market bets on Bank of England and ECB rate hikes have gone too far, positioning for a reversal.
IPOs & Dealmaking
Danish drugmaker Leo Pharma bloomberg.com has invited investment bankers to pitch for a potential initial public offering, reviving a long-considered plan for the century-old company. This comes as Nasdaq considers rule changes wsj.com to accommodate mega-offerings from firms like SpaceX and OpenAI, a move sparking debate over special treatment. In private credit, a Peyton Manning-backed women’s soccer team bloomberg.com sold private debt, highlighting the sector's reach into sports. Separately, Venture Global bloomberg.com greenlit an $8.6 billion US LNG export expansion in Louisiana, a major capital project Energy & Commodities
OPEC’s crude output rose bloomberg.com last month as Saudi Arabia boosted production amid rising regional tensions, a Bloomberg survey showed. US natural gas futures fell wsj.com on light weekend weather demand, though prices are expected to pick up next week. Raw sugar is headed bloomberg.com for a fourth weekly gain, buoyed by a crude oil rally and anticipation of Brazil’s gasoline price decision. In metals, Rio Tinto bloomberg.com will slow construction of its Quebec lithium plant as costs surge, just weeks after gaining control. Meanwhile, him & Hers Health bloomberg.com shares surged to a record weekly gain on a Novo Nordisk partnership, fueled by weight-loss drug optimism.
Geopolitical & Macro Impacts
The Middle East conflict is driving nytimes.com broader costs higher, prompting consumer savings tips, while India’s forex reserves bloomberg.com fell the most since November 2024 as the RBI intervened to support the rupee amid volatility. India’s neighbors are seeking fuel bloomberg.com from New Delhi as Persian Gulf access curtails, enhancing Asia’s third-largest economy’s regional leverage. Montenegro’s path to EU membership faces a fix bloomberg.com over its de facto euro use, with a solution near. In Africa, Ghana’s cocoa regulator bloomberg.com has delayed over $400 million in trader loans, threatening next season’s bean purchases.