Public Markets 3d Briefing
×Energy & Commodities
Oil futures tumbled 12% bloomberg.com after conflicting statements about Strait of Hormuz shipping sent crude into its biggest one-day decline in four years. The IEA's proposal for the largest-ever strategic reserve release bloomberg.com aimed to tame prices that had spiked above $100/barrel amid Middle East supply disruptions. Aluminum prices surged to 2022 highs bloomberg.com as the Iran war stoked supply concerns, while soybean oil futures jumped 4% bloomberg.com on rising biofuel demand as energy costs soared. Diesel prices jumped 25% wsj.com in a week, hitting truckers and manufacturers with soaring fuel costs that threaten to ripple through the broader economy.
Fixed Income
Japanese government bonds extended their rally bloomberg.com tracking U.S. Treasury gains as traders priced in a September Fed rate cut. Bond traders aggressively dumped bullish positions bloomberg.com after the Mideast conflict triggered inflationary fears and oil price volatility. European bonds rebounded bloomberg.com as energy prices retreated, while California muni bonds saw heavy demand bloomberg.com amid a flurry of tax-free debt issuance. The Philippine bond market faces the highest oil risk bloomberg.com in Asia, with sustained Middle East conflict threatening to drive up energy costs and pressure government finances.
Equities & IPOs
Wall Street staged a dramatic comeback bloomberg.com as stocks and bonds rebounded on hopes the 10-day-old Iran war may be ending soon, with oil tumbling in post-settlement trading. AMC Entertainment turned to Deutsche Bank bloomberg.com to refinance debt after public market turbulence derailed a planned bond sale, while Smile Doctors weighed a $2 billion debt deal bloomberg.com to lower borrowing costs. Record corporate borrowing hit $65 billion ft.com as companies rushed to capitalize on calmer markets, led by Amazon's nearly $50 billion in bond sales. IPO lock-up expirations threaten beaten-down stocks bloomberg.com with a potential "negative feedback loop" as selling restrictions lift for long-term investors.
Corporate & M&A
Starboard Value amassed a $350 million stake bloomberg.com in Car Max and is pushing for accelerated turnaround efforts under incoming CEO Keith Barr. The daughter of late wildcatter Autry Stephens bloomberg.com is selling about $2 billion of Diamondback Energy stock received from the sale of her father's company. Blackstone arranged a $1.2 billion credit facility bloomberg.com for Air Trunk's expansion into Japanese data centers, part of a broader push into AI infrastructure assets across Asia-Pacific. Raízen neared an out-of-court debt restructuring bloomberg.com with main creditors as Brazilian sugar and ethanol producer seeks to rework its obligations.
Technology & AI
Microsoft backed Anthropic in its legal fight ft.com with the Pentagon over a supply chain risk designation, throwing its weight behind the AI startup's lawsuit. The software giant added Anthropic's AI models ft.com to its Copilot workplace tools as it diversifies away from OpenAI. Meta acquired Moltbook nytimes.com, a social network for AI bots, as Silicon Valley's obsession with artificial intelligence agents continues to grow. Senate aides gained approval nytimes.com to use AI tools including Chat GPT for official work, research, and document preparation.
Real Estate & Construction
Haleon invested £65 million bloomberg.com in a new oral health plant in Shanghai as the consumer health giant doubles down on growth in China and India. Home-help app Snabbit raised funding bloomberg.com at a $450 million valuation, tapping investor interest in the burgeoning household services market. Vail's ski business model faces pressure ft.com as lack of snow and rising prices test the viability of annual pass strategies. Existing-home sales rose unexpectedly bloomberg.com in February as affordability improved with declining mortgage rates and modest asking price growth.
International Markets
Most Asian currencies strengthened wsj.com against the dollar amid falling crude oil prices, while emerging-market currencies rebounded bloomberg.com as Trump signaled the Iran war could end soon. South Korean President Lee Jae Myung called for a quick fuel price cap bloomberg.com as energy costs spiked from Middle East conflict. Taiwan considered selling debt bloomberg.com for the first time to finance overseas investments as the self-ruled democracy resists Chinese pressure. Korea's leveraged ETF market showed resilience bloomberg.com as retail investors held positions during the selloff.
Legal & Regulatory
The D.C. Bar began disciplinary proceedings nytimes.com against Ed Martin, a senior Justice Department official, over an alleged unethical pressure campaign against Georgetown University. Two former police officers pleaded not guilty nytimes.com to federal charges of conspiring to steal from a prostitute while responding to a brothel complaint in Queens. A Texas woman found innocent nytimes.com after 22 years in prison will not be deported, with federal officials allowing her to remain in the U.S. following her murder acquittal.
Defense & Aerospace
Two teen mariachi musicians were released nytimes.com from ICE detention after Democratic lawmakers intervened on their behalf. Boeing delayed some 737 Max deliveries nytimes.com due to a wiring issue but maintained its 2026 sales goal of about 500 jets. Powerus, backed by Trump's sons wsj.com, plans to acquire Ukrainian drone technology for Pentagon sales. AeroVironment cut guidance wsj.com and now expects adjusted earnings per share of $2.75 to $3.10 for fiscal year, down from previous estimates of $3.40 to $3.55.
Politics & Policy
Trump announced a new U.S. oil refinery ft.com with Reliance Industries backing, marking the first such project in 50 years in Brownsville, Texas. The Trump administration restarted the Global Entry program nytimes.com after pausing it during the Homeland Security Department shutdown. French President Macron plans Hormuz ship escorts bloomberg.com once conflict calms down, seeking to launch a joint maritime mission to escort container ships. The UK deployed its first warship to Cyprus ft.com amid criticism of Britain's slow response to bolstering support for allies in the Iran war.
Metals & Mining
Rio Tinto secured $1.2 billion in financing wsj.com for its Argentina lithium project from four international lenders to support work on the $2.5 billion Rincon project. Australia's Samsara Eco targets critical minerals wsj.com by tailoring microscopic organisms to retrieve materials from electronic waste. Japan locked in rare earths supply ft.com with a deal with Australian miner Lynas, reflecting growing efforts by countries outside China to safeguard flows of key materials. CATL reported earnings beat wsj.com despite cooling EV demand and higher metal prices, posting stronger-than-expected net profit in the fourth quarter.
Private Credit & Alternative Assets
Private credit lenders provided over $400 million bloomberg.com in delayed draw term loans for Blackstone's Enverus after supplying roughly $3 billion in December. Cliffwater faces 7%+ redemptions bloomberg.com from its flagship private credit fund as investors reassess risk in the current environment. Ares Management plans its first Asia local currency private credit fund bloomberg.com in Thailand as the country emerges as a new market for private lending. EQT took a 42% stake in Yorkshire Water ft.com as the Swedish private equity group injected funds into the utility, signaling enduring investor confidence in the industry.
Agriculture & Food
First Brands Group agreed to sell Harley parts business bloomberg.com to an affiliate of Active Dynamics Group for $50 million as the bankrupt auto parts maker continues restructuring. Activist Starboard took a big stake in Lamb Weston wsj.com and is pushing for faster improvements and cost cutting to boost underperforming stock. Chicago soybean oil prices surged over 4% bloomberg.com as conflict in the Middle East lifted demand for crops used in biofuel production amid rising energy costs.