Public Markets 3d Briefing
×Dollar and Currency Markets
The dollar bloomberg.com is heading for its best week in more than three years after the US strike on Iran triggered a flight to safety, with traders now turning to Friday's jobs report to gauge whether the rally will continue. UK mortgages bloomberg.com are about to get pricier as swap rates rise on Iran war concerns, with a key gauge reflecting expectations for the future path of UK interest rates climbing to the highest this year. Meanwhile, the Swiss franc wsj.com faces increased intervention pressure as the Swiss National Bank voices willingness to halt recent gains.
Oil and Energy Markets
US oil bloomberg.com topped $80 a barrel for the first time since January 2025 as the deepening conflict in the Middle East disrupted crude flows to key buyers. Traffic through the Strait of Hormuz bloomberg.com has come to a near halt, with Aramco shifting to the Red Sea route for shipments, underscoring the risks associated with the critical chokepoint through which about 20% of global oil trade passes. Saudi oil storage bloomberg.com is filling rapidly as the key export route through the Strait of Hormuz effectively remains closed to shipping, according to geospatial analytics company Kayrros.
Bond and Fixed Income Markets
Bond options traders bloomberg.com are increasingly betting that the Federal Reserve will forgo any rate cuts this year as an intensifying conflict in the Middle East boosts oil prices and threatens to push up inflation. Muni bonds bloomberg.com saw their biggest decline since the tariff-fueled selloff, with benchmark yields rising as much as 11 basis points as geopolitical unrest in the Middle East and surging oil prices roiled US Treasuries. The UK is slashing its bond sales bloomberg.com to a three-year low, in a boost for a gilt market being battered by investor concerns over war in the Middle East.
Stock Market Performance
The S&P 500 bloomberg.com futures were little changed as of 7:45 a.m. in New York as the war in the Middle East again sends oil higher. Broadcom wsj.com is having a hard time impressing investors with blowout chip projections, and its software business is a drag despite AI business booming. CrowdStrike wsj.com CEO shakes off software concerns as fourth-quarter sales rise, saying demand and revenue are climbing despite market fears that the rise of artificial intelligence could upend software makers.
Technology and AI Sector
Nvidia investing.com sank on reports of global AI chip export rules, while OpenAI's Symphony investing.com may shift AI beyond chat, according to UBS. Rapid Anthropic growth investing.com is bullish for this Magnificent 7 stock, and Ares bloomberg.com sees massive demand for AI infrastructure. The AI PR problem persists as sector companies have been slow to address the concerns of ordinary people over the technology.
Airline and Travel Industry
Airline troubles bloomberg.com mount as flight cancellations top 23,000, with the financial and logistical troubles the Iran war is causing for the global aviation industry compounding by the day. Heathrow Airport bloomberg.com faces mounting cancellations and parked planes from the war, posing an "operational challenge" as the hub faces hundreds of flight cancellations and a fleet of parked aircraft. Jet fuel prices ft.com soared as the Iran war squeezes supply, though more flights resume across the Middle East despite some refueling disruptions in Oman.
Banking and Financial Services
Oracle plans finance.yahoo.com thousands of job cuts in the face of an AI cash crunch. JPMorgan's bloomberg.com 3,500-person leveraged finance event was jolted by war reality check, with unease already present about the roughly $3 trillion leveraged finance market as thousands of bankers, investors, and analysts descended on Miami Beach for the annual conference. Banks are asking bloomberg.com British officials to exempt the UK's Treasury bills from a key regulatory capital metric to help the nation expand the market.
Mergers, Acquisitions, and IPOs
Robinhood launched investing.com a new platinum credit card aimed at wealthy customers. Six Flags Entertainment wsj.com agreed to sell seven of its regional amusement parks to EPR Properties for total cash consideration of $331 million. Mapletree Investments bloomberg.com agreed to sell a portfolio of East Coast warehouses to EQT Real Estate for $575 million. The bankers' bumper year for IPOs isn't quite going to plan, with volatility high and few companies hoping for a credible first-day performance wanting to brave choppy waters.
Real Estate and Infrastructure
EQT bought East Coast warehouses from Mapletree for $575 million. Data center boom investing.com boosts communications infrastructure companies but supply catching up. The World Bank plans bloomberg.com $500 million to upgrade Kenya's commuter rail network. KNDS NV bloomberg.com stake deal talks continue as state-owned lender KfW works with JPMorgan Chase on the potential purchase.
Corporate News and Leadership
Delta Air Lines wsj.com is shaking up the top leadership team following the retirement of its longtime president and the upcoming departure of its operations chief. Rolls-Royce ft.com boss is in line for increased £18 million a year pay package, already sitting on a paper gain of more than £100 million from shares received when joining the engine maker. Berkshire Hathaway ft.com CEO Greg Abel started the conglomerate's first share buyback of the post-Buffett era, with company holdings of cash and short-term Treasury bills at a record $373 billion.
Cryptocurrency and Digital Assets
Stablecoins wsj.com and the yields they can offer are at the center of a fight between the crypto and banking industries, with crypto fans having an alternative to savings accounts that banks are freaking out about. NYSE owner Intercontinental Exchange bloomberg.com invested in crypto exchange OKX at a $25 billion valuation, acquiring a stake in the deal.
Automotive and Manufacturing
BYD launched wsj.com a new fast-charging battery amid slowing demand in China, releasing an electric-vehicle battery that can be fully charged in nine minutes to address slowing demand and falling market share. Volvo Car wsj.com will increase production of new electric SUV to meet strong demand, with orders only open in European markets and the company already having more than 3,000 orders in Sweden alone.
Emerging Markets and International Finance
Zimbabwe is taking steps bloomberg.com to clear the $23 billion it owes multilateral institutions as talks with lenders progress well. India has held talks bloomberg.com with the US to seek clarity on a proposed mechanism to provide insurance for oil tankers and other vessels transiting the Strait of Hormuz. Germany secured ft.com a US sanctions exemption for Rosneft refinery, sparing Berlin from risk of major fuel supply disruptions.