Public Markets 3d Briefing
×Market Overview
Multiple forces are colliding bloomberg.com in ways that defy easy fixes, as the old playbook of buying the dip is far from guaranteed to work, according to market analysts. Investors cut leverage bloomberg.com as the Iran conflict and oil price spikes roiled Indian markets, with margin funding dropping to the lowest level since November. The surge in oil prices, exceeding $100 a barrel, has compelled India’s central bank to step up support bloomberg.com for both the rupee and bonds, heightening inflation risks. The conflict also sent tremors nytimes.com through the global economy.
Energy & Commodities
Oil prices will likely remain high nytimes.com as the war in Iran continues, experts say. However, oil prices offered a stunning reversal wsj.com, with a resumption of flows through the Strait of Hormuz needed to sustain a decline, according to ING wsj.com. Trend riders, the algorithmic traders known for riding trends, have maxed out on bullish bets bloomberg.com on US oil. The G7 finance ministers held an emergency oil meeting ft.com and stand ready to release emergency oil reserves ft.com. The escalating conflict in the Middle East has pushed oil prices near $120 a barrel, prompting South Korean President Lee Jae Myung to urge a fuel price cap bloomberg.com. The war is also a potent geopolitical tool again nytimes.com. The rise in oil prices has caused the highest weekly jump ft.com in the average US price of petrol since Russia’s full-scale invasion of Ukraine.
Metals & Mining
Aluminum extended its retreat bloomberg.com from a four-year high, as US President Donald Trump signaled bloomberg.com a possible end to the Iran war. A surge in aluminum prices bloomberg.com propelled China Hongqiao's Zhang Bo to a $48 billion fortune. The ongoing conflict in Iran could lead to an increase in traffic at the Panama Canal from Asian energy buyers seeking alternative LNG sources, according to canal administrator Ricaurte Vasquez bloomberg.com.
Fixed Income & Currencies
The Singapore dollar was steady wsj.com against its US counterpart in the Asian session, supported by a pullback in oil prices. Japanese government bonds rose wsj.com, tracking gains in U.S. Treasurys. China’s government bonds slumped bloomberg.com as surging oil prices spurred concern over imported inflation. US airline bonds weakened bloomberg.com as the Middle East war lifted jet fuel costs.
Equities
Japanese stocks bounced back bloomberg.com as a fall in oil prices eased some concerns around the Middle East conflict, although investors remained on alert as Donald Trump said bloomberg.com the war will not end this week. JPMorgan sees a 10% correction bloomberg.com in the S&P 500 as war risks build up. Gabler Group AG’s shares rose bloomberg.com on their first day of trading in Germany, buoyed by strong demand among investors for European defense firms.
Corporate Actions & M&A
Madison Air bloomberg.com filed for a Nasdaq IPO targeting a $500M valuation, buoyed by three consecutive quarters of double-digit revenue growth in the private aviation charter market. Blackstone bloomberg.com secured a $1.2 billion loan for Air Trunk's expansion into Japanese data centers, part of a broader push by private equity into AI infrastructure assets across Asia-Pacific. AMC bloomberg.com turned to an existing creditor to refinance debt after turbulence in public markets derailed a planned bond and loan sale. PAG bloomberg.com is considering a sale of poultry meat producer Shandong Fengxiang Co. after taking it private last year.
Activist Campaigns & Corporate Governance
Carmignac bloomberg.com is supporting a campaign by UK-based activist fund Palliser Capital to improve corporate governance and boost shareholder value at South Korea’s LG Chem Ltd. Starboard Value wsj.com is pushing Lamb Weston to speed up improvements and cost cutting. Mongolia presses Rio Tinto ft.com to rewrite the terms of its $18 billion Oyu Tolgoi mine.
Economic Indicators & Policy
Mexico’s annual inflation accelerated bloomberg.com more than expected in February. Australia’s fiscal coffers are set to be boosted bloomberg.com by higher liquefied natural gas and coal export prices, while households will be hit by surging gasoline costs. The Senate Agriculture Committee chair urged farm rescue bloomberg.com after the oil price surge. Taiwan is considering bloomberg.com selling debt for the first time to finance overseas investments.
Geopolitical & Regulatory
The US told its G-7 partners that Russia sanctions relief would be temporary as it reacts to spiking energy prices amid the war in Iran bloomberg.com. The US and Western allies turn to reserves wsj.com to counteract the Gulf oil crisis. The U.S. government reached an agreement ft.com to end prosecution of Turkey’s Halkbank. Venezuela’s National Assembly gave preliminary approval bloomberg.com to a new mining bill. China keeps pushing bloomberg.com nuclear power with an ambitious growth target.
Legal & Political
In a rare joint appearance, Supreme Court Justices nytimes.com offered sharply different views on how the court should handle emergency requests. The US has removed a Republican member of the NTSB, citing no reason nytimes.com. A Republican-led House committee on China demands information ft.com from Dominari Securities and two other firms.
Industry Specifics
Four Chinese-run nickel plants in Indonesia halted output bloomberg.com after a deadly landslide. Vail forecasts lower profit wsj.com after sparse snow deterred skiers. Air New Zealand suspended its earnings guidance bloomberg.com as wildly fluctuating jet fuel prices mean the assumptions it made less than two weeks ago are no longer valid. FedEx tops UPS bloomberg.com in market value, becoming the biggest US parcel firm.
Other Notable Developments
A company backed by US energy magnate Harry Sargeant III moved to export Venezuelan crude bloomberg.com to Asia as US sanctions ease. The former Treasury secretary and Harvard president is no longer affiliated wsj.com with America’s leading economics organization. Nigel Farage ft.com takes a stake in a bitcoin company.