Public Markets 24 Hours

Last updated: May 19, 2026, 8:32 PM ET

Global Bond Markets

Global bond yields surged to multi-year highs as the 30-year U.S. Treasury reached levels unseen since 2007, with Asian stocks poised for a fourth day of declines amid mounting inflation concerns. The selloff accelerated after large block sales in U.S. Treasury futures exacerbated losses in the $31 trillion government debt market, while European borrowers rushed to issue debt at the fastest pace on record before the European Central Bank potentially hikes rates. Treasury yields rose again Tuesday as the Strait of Hormuz remained closed, keeping energy prices elevated and stoking fresh inflation fears among fixed-income investors.

Energy & Commodities

Oil futures steadied near $73 as traders weighed President Trump's latest threats against Iran, even as massive options bets on Brent crude rattled markets already on edge over supply disruptions. The oil and gas sector saw $20 billion of assets come to market as private equity firms seek rare exit opportunities, while Russian crude flows rebounded after the Black Sea port of Novorossiysk fully restarted operations. Singapore secured enough LNG supplies to last through year-end, replacing shipments disrupted by the Iran conflict, though an oil slick reached Iran's Shidvar Island, threatening the pristine wildlife sanctuary.

Equity Markets & Corporate Earnings

Toll Brothers shares jumped 5% in postmarket trading after the luxury homebuilder reported second-quarter profit that beat estimates and raised full-year guidance, as average home prices topped $1 million for the first time since mid-2024. Despite the Iran conflict weighing on sentiment, European equities rose for a second day following strong earnings reports, though investors warn of correction risk as high-flying stocks defy bond market weakness. Japan's benchmark bond yield approaching 3% kept pressure on Japanese stocks amid fears of higher corporate borrowing costs.

Capital Markets & IPO Activity

Lincoln International raised $421 million in its IPO priced at the top of the marketed range, while Goldman Sachs secured the lead role on SpaceX's highly anticipated offering that has Wall Street racing to identify the next space exploration winners. Wall Street braces for a tech IPO boom following Cerebras' successful $6.4 billion raise, with BioMar priced for Copenhagen's biggest IPO since 2018 as demand for sustainable aquaculture assets grows. The SEC proposed reducing issuer disclosure requirements to encourage more companies to pursue public listings amid a dearth of new issues.

Banking & Financial Services

Morgan Stanley issued China-only iPhones to Hong Kong bankers amid rising data security concerns for staff traveling to mainland China, while Standard Chartered plans to cut nearly 8,000 jobs as AI adoption escalates across the lender's operations. The IRS will drop audits of Trump and his family as part of the Justice Department's compensation fund deal, and Blue Owl co-founder Doug Ostrover sold his Washington Commanders stake after his investment firm's stock plummeted. Trump's executive order directs regulators to reconsider customer information collection as a safeguard against money laundering.

Technology & AI Sector

Google unveiled smart glasses and AI agents powered by its new Gemini model, closing the gap with competitors as AI becomes central to tech sector strategy. Tesla's Semi truck could disrupt the trucking industry with lower operating costs than traditional electric competitors, while Google redesigned its search box for the first time in 25 years to accommodate longer AI-powered queries. SoftBank's massive OpenAI commitment has raised concerns among insiders about founder Masayoshi Son's devotion to the AI sector, even as Google DeepMind's Demis Hassabis emerged as an early Anthropic investor.

Corporate Developments

Cava Group boosted fiscal-year guidance as the Mediterranean fast-casual chain reported revenue growth and increased customer traffic, while Analog Devices agreed to acquire Empower Semiconductor for $1.5 billion to expand its AI compute power delivery capabilities. Home Depot posted lower first-quarter profit as homeowners continued pulling back on large improvement projects, though Diploma shares climbed after lifting guidance for the second time this year. IG Group's stock hit an all-time high after raising annual guidance on strong trading volumes.