Public Markets 24 Hours

Last updated: August 22, 2026, 8:31 AM ET

Public Markets

Treasuries and Bonds

The Treasury Department’s announcement of a bond buyback briefly stemmed a selloff in the bond market, though the calm was short-lived. Yields rose despite efforts to curb borrowing costs, with the U.S. Treasury’s plans to expand bond buybacks to bring long-term yields lower signaling stress and sparking a renewed round of debasement trades. Scott Bessent's intervention in the bond market ultimately knocked down long-term yields for less than a day, but the more lasting market signal was a weakening dollar alongside rallies in gold and Bitcoin, reinforcing debasement trades. Billionaire Ray Dalio advised investors to reduce bond holdings and allocate up to 15% of their capital to gold as a hedge against a potential U.S. debt crisis within three years. The bond scare has returned, re-establishing the link between power and fiscal capacity after the "dreamworld of the 2010s." Meanwhile, UK retail investors have been snapping up gilts, with a surge in yields prompting buying of tax-efficient, low-coupon securities.

Equities

U.S. stocks rose, with the S&P 500 showing resilience, though the Dow industrials were on track for their largest weekly decline since March. Bitcoin surged more than 9% to a peak of $79,455, its highest level since late May, driven by a confluence of institutional demand, short covering, and progress on clarity acts. This surge in the cryptocurrency, coupled with resilient crypto stocks, helped lift overall market sentiment. In Europe, hedge funds have slashed their short-only positions on European diesel to the lowest level in over two years, indicating anticipation of a historic fuels crunch. The education group Pearson reported a 19% rise in first-half revenues, prompting an executive to cash in £19.6 million in shares.

Commodities and Energy

Oil futures ended the week higher, with simmering Middle East tensions contributing to the gains, as no resolution was reached in the U.S.-Iran conflict. The U.S. is planning to tighten economic pressure on Iran rather than pursue major military action. U.S. natural gas futures settled higher, marking a second consecutive week of gains, driven by hot summer weather that increased electricity-sector demand for air conditioning. Forecasts indicate intensifying heat and higher demand for gas-fired power In basic materials, gold prices continued to show strength, climbing back above the $4,600-an-ounce mark. Gold settled up 2.4% on Friday, and silver rose 2.1%, with both metals extending their gains for a third consecutive session and posting weekly increases.

Technology and Media

TikTok settled a U.S. lawsuit over child privacy concerns for $400 million, resolving accusations that the social media company illegally gathered children’s information. The Justice Department announced the resolution of the case. In a significant development for the automotive sector, China’s regulator ordered a recall of nearly one million vehicles from Tesla and seven other manufacturers due to door safety concerns, an issue that has led to lawsuits against Tesla in the United States. The ride-hailing giant Uber faces an €825 million Dutch fine for its automated system for suspending drivers. The Pentagon has dismissed staffers from the military newspaper Stars and Stripes for insubordination, including its editor-in-chief and a Middle East reporter.

Deals and Investigations

The Securities and Exchange Commission (SEC) has accused a former Bank of America Corp. senior investment banker, Jason Satsky, of insider trading. The regulator alleges that Satsky passed confidential information about a deal to a friend, who then made $18.5 million in illegal profits. Bank of America has been implicated in the scheme. Separately, the U.S. government agreed to pay Liberia $5 million in connection with deportees, a payment approved after Liberia indicated it would consider accepting migrants from other countries. The Trump administration also approved a payment to Liberia under its third-country deportation program, though five individuals resisted deplaning and were subsequently flown to Equatorial Guinea. The GEO Group, a prison firm, donated over $1.4 million to President Trump’s super PAC, following a period where its subsidiary profited from ICE contracts totaling $165 million annually.

Global Markets and Politics

In Brazil, President Luiz Inácio Lula da Silva maintained his lead over right-wing challenger Flávio Bolsonaro in the upcoming October election, according to a new poll. Turkey has requested an Interpol ‘red notice’ for Israeli Prime Minister Benjamin Netanyahu, citing alleged abuse of flotilla activists, escalating tensions between the two countries. China’s chipmaker Yangtze Memory Technologies Co. (YMTC) plans to raise 33 billion yuan ($4.9 billion) in a Shanghai initial public offering, following a similar move by rival CXMT Corp. China believes it can withstand U.S. economic threats concerning Iran, citing its ability to control critical mineral supplies and sufficient oil reserves. In a significant recall, China ordered Tesla and seven other automakers to address door safety issues in nearly one million vehicles.

Legal and Regulatory

An appeals court has reduced the award to the parents of one Sandy Hook victim to $6 million from $49 million, citing a Texas damages cap, though the conspiracy theorist Alex Jones still owes over $1 billion in other cases. Prince Harry and six other high-profile figures have been ordered to pay an initial £9.5 million to the Daily Mail’s publisher after losing a privacy lawsuit. The High Court ruled that the losing parties must cover legal costs on an ‘indemnity’ basis. The union representing Boeing engineers and technicians has rejected a contract offer and authorized a potential strike if a new agreement is not reached by October. The WSJ Dollar Index ended Friday down 0.1%, and fell 0.7% for the week to 95.33.

Other Developments

The U.S. has agreed to pay Liberia $5 million in connection with deportees, a deal that followed Liberia's indication it would consider taking migrants from other countries. Five individuals deported under the Trump administration's program resisted deplaning in Liberia and were subsequently flown to Equatorial Guinea. Wild weather in the U.S. is trimming harvests and boosting crop prices, posing a risk to China's trade, as the top commodities importer increases soybean purchases. Mark Zuckerberg has purchased a nearly 200-year-old estate in Ireland, adding to his extensive landholdings. The Federal Reserve's Jackson Hole symposium is anticipated to be one of the most interesting in recent years, with market participants watching for signals on monetary policy.