Public Markets 3d Briefing
×Market Volatility & Energy Crisis
The S&P 500 bloomberg.com dropped 1.2% in its worst week since June as oil prices surged above $90 for the first time in the Iran war. Brent crude bloomberg.com jumped to $90.26 a barrel, with West Texas Intermediate hitting $86.83, as traders braced for prolonged conflict and production shutdowns. The dollar bloomberg.com rallied to its best week since 2024, gaining as the ultimate safe haven amid Middle East turmoil and skyrocketing oil prices.
Private Credit & Fund Management
BlackRock wsj.com stuck to a 5% redemption minimum on its HPS Corporate Lending Fund after withdrawal requests surged to 9.3% of net asset value, while rival Blackstone took the opposite stance by suspending redemptions entirely. HPS CEO Kapnick bloomberg.com discussed the next wave of private credit and future growth under BlackRock at Bloomberg Invest 2026. Meanwhile, Blue Owl Capital bloomberg.com revealed £36 million exposure to collapsed UK lender Century Capital Partners, highlighting risks in the private credit sector.
Oil Market Disruption
Qatar bloomberg.com loaded its first LNG cargo since declaring force majeure, while Saudi Arabia bloomberg.com saw storage sites filling rapidly as the Strait of Hormuz remained effectively closed to shipping. Russia bloomberg.com emerged as the first clear winner from the Iran war, with Indian refiners snapping up Moscow's barrels after Middle East flows bottled up in the Persian Gulf. Kuwait investing.com cut oil output as storage filled up amid the disruption.
Geopolitical Tensions & Policy
President Trump investing.com demanded "unconditional surrender" from Iran, rejecting negotiated settlements as US and Israeli airstrikes continued. Former EU foreign policy chief bloomberg.com questioned how the Iran war would end, while Supreme Leader Ali Khamenei bloomberg.com was killed in US-Israeli strikes. National Economic Director Kevin Hassett bloomberg.com called the February jobs report an "outlier," blaming bad weather for the 92,000 nonfarm payroll decline.
Central Bank & Monetary Policy
Federal Reserve Bank of Chicago President Austan Goolsbee bloomberg.com expressed hope that rate cuts could start by year-end, while Governor Christopher Waller bloomberg.com said the Iran war is "unlikely to cause sustained inflation," viewing the oil price shock as temporary. Bank of England ft.com rate cut hopes faded as oil and gas prices soared, with gilt yields spiking on inflation fears from the Iran war.
Corporate & Deal Activity
Servier wsj.com agreed to buy Day One Therapeutics for $2.5 billion, paying $21.50 per share in cash for a 68% premium. IG4 Capital bloomberg.com signaled it may abandon talks to acquire a controlling stake in Brazilian petrochemical giant Braskem SA as Brazil's antitrust watchdog delays analysis. Morgan Stanley bloomberg.com downgraded Indian stocks as foreigners rushed to sell amid Middle East conflict.
Technology & AI Sector
Nvidia wsj.com swore off an earnings crutch by changing how it reports stock-based compensation, putting pressure on other tech companies. JD.com wsj.com posted its first quarterly loss in over three years as the food-delivery subsidy war in China continued to take a toll. Nvidia bloomberg.com backed another UK driverless startup in a $103 million funding round, while Anthropic finance.yahoo.com said it would fight the Pentagon's "supply chain risk" label.
International Markets & Currencies
Israel's bloomberg.com stocks and currency rallied after almost a week of war with Iran, even as markets elsewhere retreated amid soaring energy prices. Colombia's bloomberg.com local debt shifted from worst performer to leading gainer as higher oil prices driven by the Iran war sparked a rally. Pakistan ft.com thwarted JPMorgan's efforts to buy the historic Roosevelt Hotel in New York, while Cuba bloomberg.com was described as the "mothership of evil" by US Representative Maria Elvira Salazar.
Market Infrastructure & Regulation
The New York Stock Exchange bloomberg.com agreed to pay $9 million to settle SEC allegations that an internal malfunction led to a botched market open and wild price swings in 2023. Robinhood bloomberg.com launched a private markets fund giving everyday investors access to high-profile private companies like Databricks and Oura, trading under ticker RVI.
Economic Data & Indicators
US retail sales wsj.com declined in January, extending a tepid trend since late last year. India bloomberg.com moved to ease pressure from a heavy pipeline of debt liabilities coming due through record bond swaps. The International Energy Agency bloomberg.com said no need yet to tap oil stockpiles amid the Mideast crisis, as global supplies remain plentiful.
Alternative Assets & Speculation
A modest investment in SpaceX bloomberg.com that thrust a niche fund into the limelight has morphed into a monster position, testing ETF capacity to hold unlisted assets. Aluminum buyers bloomberg.com rushed to secure alternative supplies from Asia as the Iran war disrupted major foreign sources. A huge aluminum options trade bloomberg.com came into the money this week as war in Iran sparked a sharp rally in prices.
Emerging Market Focus
FirstRand Ltd. bloomberg.com is exploring opportunities in southern and western Africa as the continent's biggest bank by market value looks to grow their contribution to earnings. Colombia bloomberg.com faces risk of being seduced by populists espousing radical policies, according to presidential candidate Roy Barreras. USA Rare Earth Inc. bloomberg.com plans to acquire the remaining minority interest of a Texas rare earth deposit in an all-stock transaction valuing the deal at about $73 million.