Public Markets 3d Briefing
×Market Volatility and Tariff Impact
US stocks ft.com experienced extreme churn as earnings and AI fears drove record individual equity swings despite a subdued index performance. The S&P 500's placid surface masked dramatic underlying volatility, with the gap between large individual moves and index stability hitting its highest level since the global financial crisis. Trump's investing.com announcement of 10% global tariffs for 150 days following the Supreme Court ruling sent CEOs back to company war rooms to assess potential impacts and determine whether reclaiming billions in paid levies was worth the political fight.
Bond Markets and Fixed Income
CLO funds bloomberg.com flashed warning signs as Blue Owl unloaded $1.4 billion in assets, raising fears that private credit's individual investor push could suffer. Riskier CLO funds showed increased choosiness about credit risk as default fears spread from leveraged loans to retail funds. Meanwhile, investors bloomberg.com favored short-term Senegal bonds at auction as concerns over long-term debt sustainability lingered, highlighting shifting preferences in emerging market debt.
Commodities and Energy
Gold investing.com found support as UBS set a bold $6,200 target amid rising Middle East tensions, while Russia sold 300,000 ounces of gold from reserves in January, taking advantage of record-high prices. Raw sugar bloomberg.com futures briefly extended gains after the Supreme Court struck down Trump's global tariffs, potentially allowing top producer Brazil to export more sugar and ethanol. The energy sector saw Canada's bloomberg.com oil sands poised for mega mergers after a bumper year for deals left relatively few smaller targets available.
Technology and AI
China's investing.com AI rally ignited as investors shrugged off global disruption fears, defying the "AI scare trade" gripping US markets where investors sold software firms and wealth managers concerned about rapid AI advances eroding established business models. Google's finance.yahoo.com VP warned that two types of AI startups may not survive the competitive landscape, while NVIDIA investing.com prepared for key earnings next week that could further influence market sentiment on AI infrastructure.
International Markets
Japan investing.com saw factory activity hit a 4-year high in February on strong demand, with PMI showing robust manufacturing momentum. Germany bloomberg.com awaited data that could reveal whether Europe's largest economy is on the cusp of meaningful revival or remains hampered by Trump's tariffs and chronic challenges. Spain bloomberg.com planned to build more political and financial links to China as US ties soured under Trump's trade policies, seeking alternative partnerships in the shifting global order.
Private Markets and M&A
Private equity ft.com houses struggled to exit China deals as groups remained unable to cash out while other forms of dealmaking returned. Centerview wsj.com settled a lawsuit over analyst working hours shortly before trial, resolving a case that would have examined responsibilities in one of finance's most grueling jobs. Latham & Watkins ft.com poached two more partners from rival Wachtell Lipton in a hot market for top deals lawyers, marking rare defections for the New York-based firm.
Financial Services
Western Union investing.com shares fell as revenue missed analyst estimates, while Repsol wsj.com maintained its share buyback pace and raised its dividend for 2026, showing confidence in its energy transition strategy. Ferrovial investing.com shares slipped as 407 ETR results trailed expectations, highlighting challenges in infrastructure investments. JPMorgan investing.com closed Trump accounts after the January 6 attack, demonstrating how political events impact banking relationships.
Retail and Consumer
Walmart bloomberg.com cited trade and labor concerns in a cautious profit forecast that missed higher expectations, flagging unpredictable conditions in the retail sector. Tesla investing.com cut prices on the Cybertruck's top-end 'Cyberbeast' variant in the US, attempting to stimulate demand amid broader EV market challenges. Wayfair investing.com shares fell as Q4 results failed to impress investors, reflecting ongoing pressure in the home goods e-commerce space.
Real Estate and Infrastructure
Pending US home sales bloomberg.com continued to slide in January as the trade deficit widened, suggesting housing market softness amid broader economic uncertainty. ICE yahoo.com began purchasing warehouses but faced challenges as some owners backed out of deals, highlighting complexities in logistics real estate. Deere wsj.com boosted its outlook, seeing construction and small agriculture demand recovering, though tariffs and weak tractor demand had dragged down first-quarter profit.
Market Outlook and Strategy
At long last bloomberg.com, being underweight tech became a winning stock strategy as the opposite of years past proved true in 2026. Buy America bloomberg.com remained the go-to trade for global investors who purchased increased amounts of US stocks and bonds last year. Analysts investing.com identified footwear stocks to buy after the IEEPA ruling, while cybersecurity stocks investing.com faced questions about potential dips following a new AI-led selloff.