Public Markets 24 Hours

Last updated: May 19, 2026, 5:30 PM ET

Fixed Income & Rates

U.S. Treasury yields climbed to multi-year highs as bond investors priced in persistent inflation risks from the Iran conflict, with the 30-year yield reaching levels not seen since 2007. Large block sales of Treasury futures exacerbated the selloff in the $31 trillion government debt market, pushing the 10-year yield above 4.6% and prompting traders to eye 5.5% as the next psychological milestone for 30-year bonds. Global bond markets stabilized after President Trump signaled he would not immediately attack Iran, though elevated yields persisted across Europe and Asia amid concerns over resurgent inflation.

Energy & Commodities

Crude markets remained volatile as a massive options bet on Brent prices unsettled traders already monitoring unusual flows amid Iran war headlines. Indian refiners raised fuel prices for the second time in less than a week as Middle East conflict drove crude costs significantly higher, while Bharat Petroleum shifted to spot crude purchases after the Iran war disrupted annual supply arrangements. Chile lowered copper production forecasts for 2025 and 2026, reinforcing expectations of tight global supplies that have pushed prices near record highs and signaling potential commodity shortages ahead.

Mergers & Acquisitions

Analog Devices agreed to acquire Empower Semiconductor for $1.5 billion in cash, expanding its total addressable market in artificial-intelligence compute power delivery as demand from AI developers climbs. La Caisse's infrastructure arm purchased Information Services Corp. for C$1.2 billion ($872 , taking the Canadian database company private as the Quebec pension fund deepens its technology holdings. ArcelorMittal sold a $667 million stake in Vallourec to boost shareholder returns, divesting approximately 23.9 million shares equivalent to 10% of outstanding capital.

Technology & IPO Markets

Wall Street prepares for a tech IPO boom following Cerebras' successful $6.4 billion raise, with SpaceX, OpenAI and Anthropic expected to list later this year. SpaceX readies for its highly anticipated IPO as Elon Musk's aerospace company draws intense Wall Street attention, with the offering potentially igniting a race to identify the next space exploration winner. Google unveiled a new AI model that CEO Sundar Pichai says closes the gap with Anthropic and OpenAI, as the tech giant overhauls its search box for the first time in 25 years powered by Gemini AI to answer longer queries and integrate video-generation tools.

Equity Markets & Corporate News

Cava boosted fiscal-year guidance as Mediterranean fast-casual restaurant chain revenue climbed on growing traffic, with the company expecting momentum to continue. Berkshire Hathaway took a new $2.6 billion position in Delta during the first quarter, rekindling CEO Greg Abel's interest in airlines after years of avoidance. Stellantis will begin producing new small EVs in Italy by 2028, targeting the affordable small-car market in Europe as the Jeep-maker expands its electric vehicle lineup.

Market Infrastructure & Trading

NYSE owner Intercontinental Exchange plans a futures market for computing power as the exchange operator adds contracts to track AI-driven technology pricing. Euronext results beat expectations as market volatility boosted trading volumes and the newly acquired Athens stock exchange contributed to revenue growth. SEC floats reducing issuer disclosures in a push to increase IPOs by allowing large new issuers to temporarily avoid the agency's strongest disclosure rules.

Currency & International Markets

Japan's finance chief pledged bold action to support the weak yen as needed, with Finance Minister Satsuki Katayama indicating willingness to intervene in foreign exchange markets as G7 counterparts understand Japan's stance. China drew foreign inflows after a brief Iran war-led outflow in April, reinforcing confidence in the economy and an appreciating yuan. Indonesian markets slumped on speculation that the government will centralize commodity exports to control capital flows and shore up a plunging currency, with palm oil futures rising on the news.

Special Situations

Meta began laying off 8,000 employees as the Silicon Valley giant transforms into an AI-first company, with mass layoffs set for May 20 after previously informing staff of restructuring plans. Aspen Group explores new investors to address about $3 billion in loan maturities due next year amid weaker earnings, as the dental care chain owner seeks to shore up its balance sheet. Warner Bros. Discovery launched a $6.2 billion junk loan sale to refinance temporary credit facilities, with Wall Street banks kicking off the leveraged loan offering Tuesday.