Public Markets 24 Hours

Last updated: April 7, 2026, 5:30 PM ET

Geopolitical Tensions & Energy Markets

Global energy markets convulsed following US strikes on Kharg Island, Iran’s primary oil export hub, as President Trump escalated rhetoric to "apocalyptic levels". Brent crude soared to a record $144 a barrel in the physical market, reflecting increasingly scarce supply, while the EIA raised its 2026 Brent forecast to $96 from $79 previously. Amid the conflict, OPEC’s crude production plunged by the most in four decades in March, while US emergency oil was rerouted to distant Peru as long-standing global flows were upended. The energy shock is now directly impacting consumers, with US airlines like Delta and WestJet imposing higher baggage fees to offset soaring jet fuel costs, and macro hedge funds suffering steep losses in March as the war distorted inflation expectations.

Fixed Income & Macro Trading

Treasury prices declined as oil gains mounted ahead of President Trump’s deadline for Iran to agree to terms, while European shares dropped amid continuing military strikes. Traders are grappling with massive uncertainty, leading Goldman Sachs and JPMorgan desks to map outcomes, and prompting investors to accelerate their flight from high-volatility assets, evidenced by billions flowing out of BlackRock’s India ETF. In the US, traders are preparing for potential escalation or a deal, causing stock index futures to erase earlier losses, though UBS strategists cautioned that bond traders risk being wrongfooted by unified central bank responses mirroring 2022 plays. Concerns over the non-bank lending sector are also materializing, with Moody’s revising its outlook for private credit vehicles to negative following a swelling wave of redemptions.

Corporate Finance & Dealmaking

Despite the heightened oil price volatility, dealmaking remains active, with bankers noting that companies are braving market swings to seize on receptive antitrust enforcers. In private credit, Blackstone successfully capped its opportunistic fund at $10 billion, signaling sustained institutional appetite for debt market upheaval, while Pimco is reportedly weighing a $14 billion debt deal for an Oracle data center build in Michigan. On the M&A front, Eldorado Gold won shareholder backing for its C$3.8 billion ($2.7 bid to acquire copper-focused Foran Mining Corp., while in media, Gulf backers secured their $24 billion commitment to Paramount’s deal for Warner Bros. despite war speculation. Elsewhere, London-listed Gamma Communications confirmed talks with potential suitors, and Blackstone & Tinicum agreed to a £1.4 billion deal for aerospace supplier Senior.

Technology, AI, & Infrastructure

The race for AI supremacy continued as Anthropic debuted its Mythos cyber AI model to detect software vulnerabilities, despite a recent source code leak, claiming the technology signals a cybersecurity 'reckoning.' In the semiconductor space, Intel is partnering with SpaceX and Tesla to operate its new Terafab chip plant in Texas, while excitement around the looming SpaceX IPO spurred record inflows into smaller space ETFs. Meanwhile, regulators are modernizing financial oversight, with US bodies unveiling a plan to overhaul anti-money-laundering rules that is expected to appeal to major Wall Street banks pushing for policy changes. In data center financing, UBS is packaging private credit stakes into insured debt, allowing the bank to realize value without immediate liquidation.

Emerging Markets & Regulatory Shifts

Asian markets are poised for structural shifts, as FTSE Russell confirmed Vietnam’s inclusion in its secondary emerging markets cohort starting in September, potentially unlocking capital inflows. However, investor sentiment in other regions is fragile; billions have fled BlackRock’s India ETF due to energy crisis fears, and the IMF warned emerging markets about shadow banking risks. European investor confidence slumped to a one-year low driven by the Middle East conflict, while in India, the regulator extended IPO approval validity as market volatility strains capital-raising plans. In the UK, FirstRand is exiting its motor-finance business after setting aside £750 million to cover claims related to missold car loans.

Corporate Strategy & Workforce Adjustments

Facing sustained cost pressures, wearable camera maker GoPro announced it will eliminate 23% of its workforce, slashing 145 jobs as part of a board-approved restructuring plan. Apparel retailer Levi Strauss raised its fiscal-year guidance after achieving 14% revenue growth in its latest quarter, indicating its turnaround strategy is generating positive results across channels. Conversely, Air India’s CEO Campbell Wilson resigned amidst continuing losses following a fatal crash, while in the US, consumer-facing firms are passing costs onto customers; GoPro's competitor GoPro is raising bag fees due to surging jet fuel expenditures. In the UK, South Africa’s FirstRand is putting Aldermore Bank up for sale after criticizing the country's £9.1 billion car finance redress scheme.