Public Markets 3d Briefing
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The S&P 500 bloomberg.com dropped 1.2% in its worst week since June, marking a dramatic reversal for Netflix Inc., which saw its stock price surge after management walked away from its proposed acquisition of Warner Bros. Discovery Inc. late last month. Entrata ft.com is working with Goldman Sachs and JPMorgan on an IPO, signaling continued M&A activity in the tech sector. Live Nation Entertainment wsj.com reached a settlement in a federal antitrust case, avoiding the threat of its business being broken up.
Macro & Policy
Japan may intervene to buy yen wsj.com amid speculation over currency strength. Ecuador ft.com is eyeing a $4B bond sale, reflecting ongoing sovereign financing needs. Mexico’s annual inflation bloomberg.com accelerated more than expected in February, breaching the top of policymakers’ target range and forcing the central bank to pause an extended easing cycle. Pakistan’s central bank bloomberg.com held its key policy rate at 10.5% despite surging oil prices, citing economic uncertainty.
Energy & Commodities
Oil prices bloomberg.com surged past $100 a barrel, driven by the escalating Iran conflict and fears over supply disruptions. Saudi Arabia bloomberg.com started reducing oil production as the near-blockage of the Strait of Hormuz began filling storage tanks. Qatar Energy bloomberg.com pushed back the start of a major LNG expansion project to at least 2027 after a drone attack forced the unprecedented closure of its Ras Laffan plant. Asian energy-importing economies bloomberg.com are scrambling to contain the impact of the widening Middle East war.
Market Developments
Nasdaq wsj.com sought approval to allow tokenized versions of its listed stocks, partnering with Kraken for 24/7 tokenized stock trading. South Korea’s President bloomberg.com called for a fuel price cap as oil prices approached $120 a barrel. European gas prices bloomberg.com jumped 30% due to the conflict, while European blue-chip stocks bloomberg.com fell, signaling potential corrections. The S&P 500 bloomberg.com is poised to extend a selloff after the biggest weekly drop since October.
Corporate Activity
EQT ft.com took a 42% stake in Yorkshire Water, signaling enduring investor confidence in the utility sector. GIC-backed Greenko Energies bloomberg.com weighed a $1B India IPO, testing investor appetite. Gabler’s shares bloomberg.com rose as Europe’s defense IPO run continued. Novo Nordisk bloomberg.com and Hims & Hers bloomberg.com ended their feud to sell obesity drugs together. Amazon bloomberg.com is reportedly considering a $10B acquisition of a major logistics company.
Risks & Reactions
America’s overreliance on oil bloomberg.com means times like these can hurt consumers. South African government bonds bloomberg.com extended their worst selloff since the Covid pandemic due to surging oil prices. Indonesian nickel plants bloomberg.com halted output after a deadly landslide, highlighting supply chain vulnerabilities. The Iran conflict bloomberg.com put the emerging-markets revival to the test, with European blue-chip stocks bloomberg.com falling and signaling potential corrections. Stagflationary forces ft.com are building as the conflict fuels inflation fears.