Public Markets 3d Briefing
×Middle East Crisis Disrupts Global Trade
Shipping through Hormuz bloomberg.com has collapsed as war with Iran turns the vital strait into a conflict zone, forcing supertankers to abandon voyages. Oil storage bloomberg.com is filling fast across the Middle East with the export artery blocked, threatening production cuts. Saudi Aramco bloomberg.com is exploring Red Sea alternatives to bypass the Persian Gulf, while jet fuel prices bloomberg.com are soaring globally. Gulf airlines bloomberg.com are described as "living the worst-case scenario," and UAE markets bloomberg.com slumped the most since 2022 upon reopening after a two-day closure. The conflict also upends popular trades ft.com, with investors selling this year's winners.
Private Credit Market Stress Intensifies
Blackstone bloomberg.com tapped private credit to fund its Champions Group buyout with a $1 billion+ loan, highlighting the sector's role as buyout firms seek refuge from public market volatility. However, Apollo’s Zito bloomberg.com warned private credit pain could last 18 months, downplaying fund outflows. HPS CEO Kapnick bloomberg.com and BlackRock’s Kapnick bloomberg.com both discussed the next wave, with the latter predicting big firms will gain from turmoil. State Street bloomberg.com and Temasek bloomberg.com executives debated private markets going mainstream, while Clearlake and Goldman bloomberg.com examined liquidity evolution. Regulators wsj.com were urged to step up surveillance of nonbank lenders.
Equity Markets & IPOs React
US stocks bloomberg.com ended a choppy day little changed as traders weighed war impacts, though Citadel’s Rubner bloomberg.com turned bullish on a March bounce. BTIG bloomberg.com joined Goldman Sachs and Citadel in a bullish call. South Korean stocks ft.com plunged 12% for their worst day since 2008, and Dubai stocks tumbled. SpaceX bloomberg.com added Citigroup to its IPO bank lineup, targeting a mid-2027 debut. TKO Group bloomberg.com, operator of UFC and WWE, brought a nearly $1 billion leveraged loan. Victory Capital CEO bloomberg.com called its Janus Henderson offer a "superior proposal" amid a competing bid.
Commodities & Currency Moves
Oil prices bloomberg.com whipsawed amid the crisis, with US crude stockpiles wsj.com rising more than expected. US chemical stocks bloomberg.com are seen gaining from tighter supply. Gold wagers wsj.com hit a 16-week high as risk-off sentiment grew, and Treasuries bloomberg.com sold off on reignited inflation worries. The US dollar bloomberg.com remained dominant per Temasek’s CEO, while African dollar bonds bloomberg.com widened as investors cut risk. Asian FX investing.com fell as oil surged, with the South Korean won leading losses.
Corporate & Sector Updates
Apple wsj.com used low prices to attack rivals during the memory-chip crunch. Ford wsj.com posted lower US February sales on electric/hybrid declines. Wizz Air bloomberg.com cut guidance as the Middle East conflict hit flights and fuel. Brown-Forman wsj.com said developed markets sales are still falling. Campari expects stable 2026 performance despite tariff hits. Smith & Nephew ft.com is confident it can weather tariff uncertainty. German supplier Continental wsj.com anticipates earnings growth this year.
Private Markets & Institutional Views
KKR’s Nuttall bloomberg.com sees consolidation emerging in alternative assets. DoubleLine bloomberg.com sees an emerging-market "virtuous loop" despite the Iran war. Ares’ Solomon bloomberg.com said lending markets will be friendly. BCA Research investing.com upgraded Canada and Australia amid Hormuz closure, while also warning an energy shock investing.com could flip the US House to Democrats. Money flowed bloomberg.com into emerging-market ETFs despite share routs, indicating contained war fears.