Public Markets 24 Hours

Last updated: June 18, 2026, 2:30 AM ET

Energy and Commodities

Oil prices retreated in Asia on Thursday as market sentiment shifted toward a potential reopening of the Strait of Hormuz, with some tankers already navigating the waterway following an interim US-Iran peace deal. While crude supplies remain tight at major storage hubs, the eventual normalization of flows is expected to herald a production surplus by next year, prompting analysts at Goldman Sachs to forecast that transit capacity may only recover to 70% of pre-war levels. Amid this transition, copper futures fell 1% as traders recalibrated expectations following hawkish commentary from the Federal Reserve, while Rio Tinto resumed exports from its Oyu Tolgoi site after brief labor protests. Meanwhile, lithium market sentiment improved as participants eye upcoming seasonal demand from the electric vehicle sector, and the London Metal Exchange plans to introduce steel futures linked to Shanghai pricing to deepen its foothold in Chinese commodities.

Central Banking and Monetary Policy

Global markets are digesting a hawkish shift at the Fed following Kevin Warsh’s debut press conference, where the new chairman signaled potential rate hikes to contain persistent inflation. This pivot has triggered a selloff in Asian equities and bonds, with Treasury yields jumping as traders fully price in higher borrowing costs for 2026. In Europe, the Czech central bank is considering its first rate increase in four years, while Bank of Japan watchers anticipate another hike by December as the yen remains under intense scrutiny. Meanwhile, China’s bond market expansion is providing the PBOC with a more flexible toolkit for monetary easing, a refinement expected to dampen volatility in the nation's money markets.

Corporate Finance and M&A

In a significant private equity reversal, Thoma Bravo will absorb a $5bn loss as it hands control of Medallia to a creditor group led by Blackstone after declining to inject further capital. Elsewhere, Brookfield Business Corp. exited its stake in construction firm Multiplex, selling the Wembley Stadium builder to Japan’s Obayashi Corp. for $650 million. The National Stock Exchange of India has filed draft papers for a landmark IPO, a move expected to unlock massive value for early backers including Morgan Stanley and Temasek, while Uzbek fintech Uzum is preparing for a new funding round to fuel expansion. Additionally, Stellantis is exploring partnerships for its Maserati unit, and CME Group will see a leadership transition in 2027 as CEO Terry Duffy prepares to step down after a tenure that transformed the derivatives exchange into a digital-first powerhouse.

Technology and AI Infrastructure

BE Semiconductor Industries raised its long-term revenue targets, pointing to robust demand for AI-integrated hardware as a primary growth driver. Despite this excitement, JPMorgan Chase restricted access to Anthropic’s Claude for Hong Kong-based employees, mirroring a similar policy at Goldman Sachs to manage regional compliance risks. Silicon Valley continues to push for AI infrastructure financing, with former executives exploring new capital channels, even as employees at Anthropic expressed growing concern over the administration’s regulatory scrutiny. Meanwhile, Kingboard Laminates Holdings has seen its stock rally 570% this year, fueled by mainland Chinese investors who have more than doubled their stake in the firm, cementing its status as an AI-linked darling.

UK and European Political Economy

British politics are bracing for a consequential by-election in Makerfield that could threaten the stability of Prime Minister Keir Starmer’s government. These tensions coincide with growing scrutiny of Thames Water regarding a potential government-led special administration regime, while IAG chief Luis Gallego criticized EU competition rules for complicating the carrier's bid for easy Jet. On the labor front, the UK government is exploring new welfare reforms that would swap sickness benefits for job coaching, as HMRC broadens its investigation into whether certain founder payments during company sales constitute disguised remuneration. Meanwhile, BMW has sounded the alarm regarding the competitive pressure from Chinese manufacturers, who are simultaneously gaining market share in Europe and at home.

Regulatory and Legal Developments

The SEC’s proposal to eliminate a long-standing stock pricing rule is drawing attention for its potential to favor crypto-market platforms. In the legal sphere, a federal judge dismissed the long-running criminal case against Turkey’s Halkbank, while HSBC was fined $24.6mn by Australian regulators for failing to protect victims of "spoofing" scams. In California, a proposed billionaire wealth tax has officially secured enough signatures to reach the ballot, setting the stage for a potential showdown with state officials. Meanwhile, short seller Andrew Left has faced a setback in his attempt to overturn a securities fraud conviction following a procedural error during his trial.