Public Markets 24 Hours

Last updated: August 22, 2026, 11:32 AM ET

Public Markets

Treasury Market Intervention Fails to Sustain Rally

The U.S. Treasury Department's announcement of a bond buyback initially stemmed a selloff in the bond market, but the reprieve was short-lived. Yields on Treasury securities rose despite these efforts to curb borrowing costs. The market experienced a wild week where Treasury buyback attempts failed to calm persistent volatility. The WSJ Dollar Index ended Friday 0.1% lower, and fell 0.7% for the week, indicating a weakening dollar that typically supports riskier assets.

Cryptocurrencies Surge Amidst Debasement Trades

Bitcoin and gold experienced significant surges, with Bitcoin registering its best week in more than three years. This rally is being attributed to investors piling into "debasement" trades, a strategy that benefits from currency devaluation. The world's biggest cryptocurrency neared $80,000, as U.S. stocks also rose, lifted by resilient crypto stocks. The surge in Bitcoin and gold, alongside a weakening dollar, reinforces a debasement narrative in the market. Billionaire Ray Dalio advised investors to sell bonds and buy gold and Bitcoin, suggesting a potential debt crisis within three years.

Energy and Commodities See Mixed Movements

Oil futures ended the week higher, with no significant progress made toward resolving the U.S.-Iran conflict. The market also saw hedge funds slash short-only positions on European diesel to the lowest in over two years, anticipating a historic fuels crunch. Natural gas futures settled higher, rising for a second consecutive week due to hot summer weather driving demand for air conditioning.

Corporate News and Regulatory Actions

Boeing engineers and technicians rejected a contract offer, also authorizing a potential strike if a new agreement isn't reached by October. In regulatory news, TikTok settled a lawsuit over child privacy concerns for $400 million, resolving accusations of illegally gathering children's information. The SEC accused a former Bank of America senior banker of insider trading, alleging he passed confidential deal information to a friend who profited $18.5 million. The Pentagon fired editors and reporters from Stars and Stripes for insubordination.

Legal and Political Developments

A court reduced an award to a Sandy Hook parent to $6 million from $49 million, citing a damages cap. The conspiracy theorist involved owes over $1 billion in other cases. In Brazil, President Lula maintained his lead over challenger Jair Bolsonaro in polls ahead of the October election. The U.S. also agreed to pay Liberia $5 million in connection with a deal to accept deportees. The Trump administration approved the payment after Liberia indicated it would consider taking migrants from other countries.

Other Market Movers

Fannie Mae is experiencing turmoil in its senior ranks, with roughly 12 executives being let go, raising concerns about stability within the government mortgage giant. The Southern Utes of Colorado are taking charge of their energy production under a new authority. In China, a massive car recall involving Tesla and eight other automakers was ordered due to door safety issues. The U.S. is cutting Colorado River water allocations for Arizona, Nevada, and California, with Arizona's share shrinking by a third.

International Relations and Trade

Turkey requested an Interpol 'red notice' for Benjamin Netanyahu, citing alleged abuse of flotilla activists, amid escalating tensions between the two countries. In Iran, President Ebrahim Raisi called for an end to the war with the U.S. from a "position of strength," reflecting internal debate over the nation's economic resilience. Canada and the U.S. continued tariff talks as a deadline loomed, with Canadian negotiators seeking to finalize a deal to avoid new tariffs. President Trump also widened beef imports in a bid to lower prices, a move that has drawn criticism from ranchers.

Technology and Media

Meghan Markle, the Duchess of Sussex, is reportedly in talks for a role in Netflix's "The Gentlemen." The U.S. techlash is intensifying as public sentiment turns against big tech companies. AI companies and social networks are facing increased scrutiny. The Federal Communications Commission is scrutinizing a programming switch by an ABC local station in St. Louis.

Other Notable Developments

The defense rested its case in a murder trial where the central issue is whether the defendant was experiencing psychosis when she allegedly strangled her three children. In India, a three-way bank merger is being proposed by MPS. Mark Zuckerberg has purchased an Irish castle estate. The U.S. Securities and Exchange Commission is probing allegations of insider trading against a former Bank of America banker.