Public Markets 24 Hours

Last updated: June 18, 2026, 8:30 PM ET

Global Markets & Geopolitics

Equity markets across Asia poised for gains on Friday as an interim peace deal between the U.S. and Iran sparked optimism that the reopening of the Strait of Hormuz will alleviate global inflation pressures by restoring vital oil flows. This pivot toward risk-on sentiment reversed Wednesday’s declines, with the Nasdaq jumping nearly 2% as investors processed the implications of the accord. Despite the deal, gold remains on track for a third consecutive weekly loss as traders weigh the potential for a hawkish Federal Reserve against the cooling of regional tensions, while Swiss authorities maintained their intervention threat with borrowing costs held at zero to guard against renewed volatility.

Energy & Supply Chains

Oil markets are heading for a substantial weekly drop as shipping traffic through the Strait of Hormuz begins to normalize, easing the largest supply shock in recent history. Consequently, jet fuel prices tumbled as airlines find relief from previous cost spikes, though analysts warn that drivers may wait months to see significant gasoline price relief at the pump, even as the average U.S. price dipped below $4 for the first time in months. The reopening remains a source of uncertainty for central banks, with European officials warning that inflationary pressures will linger, a sentiment echoed by ECB council member Martin Kocher, who expects prices to remain elevated despite the end of hostilities.

Corporate Activity & Dealmaking

EQT agreed to acquire Intertek Group for $12.36bn, representing a 38% premium over the company’s mid-April closing price, signaling strong appetite for testing and inspection assets. In the digital and financial services sector, Deluxe is purchasing Celero Commerce for $625mn to expand its footprint in services for small and midsize businesses, while Italian internet provider Eolo SpA entered advanced talks with Apollo Global Management for a €500mn private debt package. Meanwhile, debt markets remain active as Elliott and SVP Global purchased distressed bonds of the Brazilian producer Braskem SA to gain leverage in ongoing restructuring negotiations.

Space & Technology

SpaceX is tapping debt markets for a $20bn bond deal following its $86bn stock market debut, even as the company warned against EU proposals to reserve spectrum bands that could undermine satellite connectivity in Ukraine. Credit rating agencies including S&P, Moody’s, and Fitch have assigned stable outlooks to the firm, citing its dominant position in space and connectivity, though they highlighted risks associated with its massive capital requirements. As the valuation soars into the trillions, investors are increasingly debating the company’s long-term trajectory, with some analysts speculating on a potential merger with Tesla.

Banking & Regulatory Shifts

The European Commission is moving to remove barriers to cross-border capital flows in an effort to improve the competitiveness of regional lenders against their U.S. counterparts. In India, the central bank extended the term of HDFC Bank chairman Keki Mistry by three months to ensure stability, while Citi analysts suggest that recent RBI measures to attract foreign capital could trigger $80bn in inflows by the end of the year. Conversely, the industry faces scrutiny in Australia, where KPMG is facing a public reckoning in Parliament over the misuse of confidential client information, and in the U.S., where the Federal Reserve proposed stricter identification rules for stablecoin issuers to curb illicit financial activity.

Policy & Macro Trends

U.S. Treasury yields are rebounding after a selloff sparked by the debut of Fed Chair Kevin Warsh, who positioned himself as a central banker committed to curbing inflation. Despite the current market environment, bond traders are bracing for yields on 30-year Treasurys to push above 5% by year-end, signaling skepticism that the Fed will initiate a rapid easing cycle. This outlook coincides with record water bond sales totaling $21bn as utilities scramble to upgrade aging infrastructure ahead of anticipated federal funding cuts, and Kenyan lawmakers tempering previously aggressive tax proposals to secure $763mn for the national budget.

Retail & Consumer Goods

Tesco reported slower sales growth in the fiscal first quarter as wet weather and weak consumer sentiment hampered performance, despite online growth reaching 17% in Central Europe. Meanwhile, L’Oreal is acquiring a majority stake in beauty brand Innovist to accelerate its expansion within the high-growth Indian market. In the apparel sector, Reformation is preparing for a summer IPO following high-profile endorsements, while Asics faces calls for a spin-off of its Onitsuka Tiger brand to unlock value for shareholders.