Public Markets 24 Hours

Last updated: August 17, 2026, 2:36 AM ET

Equities Rally

FTSE 100 futures rose in early Asian trade as global equity markets joined a broad-based rally driven by easing Federal Reserve rate-cut expectations. The Nikkei climbed 0.5% after preliminary data showed weaker-than-expected second-quarter GDP growth, reinforcing bets that the Bank of Japan may hold rates steady. Meanwhile, US stocks hovered near record highs as investor sentiment oscillated between optimism over artificial intelligence investments and caution over persistent inflation pressures.

Fixed Income Stress

JGBs extended losses after Japan’s 10-year bond yield hit a three-decade high, approaching 3% as a weakening yen fuels inflation concerns. In India, bond yields surged across shorter tenors following the Reserve Bank of India’s decision to close a special dollar deposit window for overseas residents a month ahead of schedule. Analysts warn that global rate climbs pose a bigger threat to fixed-income markets than the Fed alone, as central banks worldwide signal prolonged tightening cycles.

Currency Movements

Emerging-market currencies rose to a record high as bets on a Federal Reserve interest rate hike cooled, spurring demand for risk assets. The Indonesian rupiah remained under depreciation pressure versus the dollar despite broader EM strength, according to HSBC. In Thailand, analysts cautioned that the recent Thai baht rally may be short-lived given the central bank’s likely dovish stance to support an oil-price-pressured economy.

Commodities & Energy

Oil prices were mixed in early trade but showed signs of firming amid a deadlock in U.S.-Iran talks to reopen the Strait of Hormuz, a key waterway through which one-fifth of global oil shipments pass. Copper surged toward a record on the London Metal Exchange as a key spread widened to extreme levels, signaling intense competition for prompt supply. India moved to boost domestic LPG output amid lingering uncertainty over Hormuz shipments, directing refiners to ramp up cooking gas production ahead of the festival season.

Credit & Derivatives

Private credit markets face mounting strain as troubled loans swell to levels not seen since 2017, according to Financial Times analysis. South Africa’s financial regulators announced plans to finalize new rules requiring OTC derivatives to be centrally cleared within two years, aiming to improve transparency and reduce systemic risk in the $9.3 trillion market.

Corporate Moves

UAE’s L’imad offered to delist AD Ports in an $8.66 billion deal, proposing to acquire minority shareholders at 31.8 billion dirhams to take the port operator private. Alibaba agreed to sell its videogame business to Trustar Capital for at least $1.5 billion as part of a strategic pivot toward artificial intelligence. Singapore-based Sembcorp is preparing an IPO of its Indian unit, Sembcorp Green Infra Ltd., potentially raising up to $500 million.

Earnings & Sentiment

Geely Auto reported an 18% drop in first-half net profit despite a surge in overseas sales, citing weaker demand in its home Chinese market. NAB shares fell after the lender revealed slowing mortgage growth and cash earnings below consensus estimates. Analysts are least bullish on BHP ahead of full-year results, with buy recommendations for its Sydney-listed stock hitting a record low.

Geopolitical & Macro Risks

The Pentagon designated WuXi AppTec as a Chinese military company, yet investors continue piling into the stock, betting the firm will remain competitive despite reduced U.S. client engagement. A Hong Kong court ordered a unit of SDIC Commodities to liquidate, deepening financial troubles for the metals trader amid Beijing’s increased sector scrutiny. Trump instructed the Pentagon to substantially reduce joint military exercises with South Korea, citing dissatisfaction with Seoul’s support on Iran denuclearization efforts.

Capital Markets

The U.S. Treasury announced plans to auction $16 billion in 20-year bonds, a sale expected to test investor appetite for long-term debt following several record-breaking auctions. Emerging-market investors are becoming more selective in the $886 billion EM debt market, adjusting bets amid persistent inflation worries and currency volatility. Gold rose to near $4,400 per ounce as weaker U.S. retail data weighed on the greenback, making bullion cheaper for holders of other currencies.

Regional Developments

Malaysia’s Prime Minister Anwar secured a political reprieve after the Democratic Action Party voted to remain in his cabinet, defusing recent coalition turmoil. Sri Lanka’s central bank governor indicated that inflation is expected to slow back toward the 5% target over the second half of this year and into 2025. Indonesia’s Modernland sought a second debt restructuring, underscoring liquidity challenges facing the property developer amid a broader sector downturn.