Public Markets 3d Briefing
×Last updated: March 12, 2026, 8:33 PM ET
Energy Markets & Geopolitical Turmoil
Oil futures surged above $100 bloomberg.com for the first time since August 2022 as millions of barrels remained trapped in the Persian Gulf, triggering the biggest oil market disruption in history. Brent crude settled at $100.56 bloomberg.com after a volatile session that saw prices swing more than $5 as traders grappled with escalating conflict in Iran. The IEA prepared emergency oil release scenarios bloomberg.com at the request of G-7 nations, with officials considering coordinated action to stabilize markets. Meanwhile, Russia raked in $150 million daily ft.com from surging oil prices, bolstering Vladimir Putin's war chest as tankers carrying Russian crude headed to India. In the U.S., residential heating oil prices jumped above $5 per gallon bloomberg.com, the highest since November 2022, as the Iran war strained global diesel and crude flows critical for home heating.
Banking & Financial Regulation
The Federal Reserve and other financial regulators planned to ease capital requirements nytimes.com for large banks, with proposals to loosen rules on how much capital lenders must hold in reserve to mitigate risks. This move cheered Wall Street ft.com as it would water down protections designed to avoid a repeat of the 2008 financial crisis. The CFTC issued new guidance bloomberg.com on manipulation in prediction markets, asking exchanges to engage with regulators before opening certain markets that might be vulnerable to manipulation. Meanwhile, State Street reported strongest dollar buying in nearly two years bloomberg.com as Middle East conflict drove demand for safe-haven assets, with institutional investors showing unprecedented appetite for U.S. currency.
Corporate Developments & Market Movements
Amazon seized a brief window bloomberg.com for a $54 billion global bond sale as the Iran war intensified, with banks pitching the company as a safe bet in an increasingly unpredictable world. The banks selling the bonds settled on a clear sales pitch bloomberg.com: Amazon's stable business model offers refuge from geopolitical volatility. In the tech sector, Oracle prepared for layoffs ft.com as it hailed efficiencies from AI coding tools, setting aside an additional $500 million for restructuring costs. Meanwhile, Tesla received UK electricity supply license ft.com, threatening further disruption to the retail energy sector after a decade of upheaval. The jewelry industry grappled with soaring gold and silver prices nytimes.com, with some jewelers turning to wood, steel, and even platinum while others leaned into volatility with bolder designs.
Private Markets & Investment Flows
Private credit funds faced mounting pressure bloomberg.com as they braced for battles with major banks over "back leverage" arrangements, already on the defensive amid unprecedented investor exodus and defaulting borrowers. Tikehau's Mayer-Lévi called the market "too noisy" bloomberg.com, comparing the turmoil to being stuck at an event you want to leave but can't. Blackstone arranged a $1.2 billion credit facility wsj.com for Air Trunk's expansion into Japanese data centers, part of a broader push by private equity into AI infrastructure assets across Asia-Pacific. Middle-market buyout shop Charlesbank bloomberg.com agreed to buy a stake in Overbay Capital Partners in a deal valuing the Canadian secondaries firm at C$200 million ($147 . Meanwhile, hedge funds managed by Ron Ozer, Doug King, and Steve Barclay bloomberg.com notched gains from commodities volatility amid the Iran war.
Regional Markets & Economic Impact
New Zealand's economic recovery lost momentum in late 2025 bloomberg.com, highlighting its fragile nature even before any impact from the spiraling Middle East conflict and surging oil prices. In Australia, Rest Super hunted for more U.S. private markets investments bloomberg.com, underscoring strong appetite from the country's fast-growing A$4.5 trillion pension system. Brazil cut fuel taxes bloomberg.com to offset oil price surges as the Iran war raged on, while introducing a levy on crude oil exports to balance fiscal impacts. India invoked emergency powers bloomberg.com to redirect LPG supplies from industrial users to households, seeking to shield ordinary people from the Middle East conflict's impact. Indian assets cracked bloomberg.com as the energy shock brought growth fears to the fore, with equities sliding and the rupee hitting record lows as foreign investors stayed defensive.
Technology & Innovation
S&P Dow Jones Indices considered rule changes bloomberg.com that would potentially fast-track SpaceX's entry into the S&P 500 Index after its IPO, people familiar with the matter said. The AI startup founded by teenagers wsj.com attracted brands including McDonald's and EY by betting AI bots can predict human behavior better than humans can. Rivian's CEO-backed robotics startup wsj.com raised $500 million to build factory robots, joining up with the electric-vehicle maker on training and testing. Mind Robotics is building factory robots wsj.com as part of a broader push into automation. Meanwhile, Anthropic and Microsoft struck an AI agents alliance ft.com, though the tussle over the future of the technology will only intensify.
Legal & Regulatory Developments
A federal judge dismissed bulk of lawsuit nytimes.com over Trump's funding freeze for a tunnel project, calling the case mostly moot because the administration had resumed the flow of more than $200 million in funding it had temporarily stopped. The Commodity Futures Trading Commission issued first guidance bloomberg.com on manipulation in prediction markets, asking exchanges to engage with regulators before opening certain markets. JPMorgan faced renewed scrutiny ft.com over its long relationship with Jeffrey Epstein, with red flags raised about the sex offender's activity since the early 2000s. Intel shareholders claimed the board gave the U.S. an equity stake ft.com to avoid Trump's social media attacks, with the lawsuit also criticizing law firm Skadden for advising both Intel and the government.
Consumer & Retail Impact
Ulta Beauty expected growth to slow wsj.com this fiscal year as consumers focused on value, forecasting sales growth of 6% to 7% compared with a 9.7% increase in the prior year. Jennifer Garner's organic kids snacks maker bloomberg.com Once Upon a Farm shares fell 9.8% after forecasting slowing sales growth in 2026 in its first earnings report as a public company. The cosmetics retailer said consumers were prioritizing value wsj.com over discretionary spending amid economic uncertainty. Meanwhile, U.S. mortgage rates rose nytimes.com, undercutting housing affordability pushes just weeks after rates fell below the critical 6 percent threshold. The homebuilder Lennar reported 13% revenue decline wsj.com in the first quarter as the tough housing market resulted in lower average home sale prices.
Transportation & Logistics
Wizz Air CEO saw Middle East travel demand shifting to Europe bloomberg.com as the war in Iran kept passengers wary about getting stuck by Gulf airlines hamstrung by airspace restrictions. Oil drillers in central California resorted to trucking crude bloomberg.com after a refinery shutdown and pipeline idling cut off traditional transport routes, with companies paying premium costs to move barrels 50 miles by truck. The Port of Los Angeles saw 3% import rise bloomberg.com in February as importers brought in goods ahead of the Lunar New Year, when many Asian factories pause production. Saudi miner Saleh Abdulaziz Al Rashed & Sons Co. surged bloomberg.com in its Riyadh trading debut, defying ongoing Iranian missile and drone strikes across the Gulf as the war with the U.S. and Israel entered its second week.
Municipal & Fixed Income Markets
Hilton Head Island sought $35 million in municipal bonds bloomberg.com to fund a new headquarters for firefighters, tapping the muni market for infrastructure projects. Municipal bond investors clamored for tax-free debt bloomberg.com sold by California issuers amid a flurry of demand. Wells Fargo, Barclays, and JPMorgan bloomberg.com will split £83 million ($110.8 in fees for their work on the sale of UK asset manager Schroders Plc. Algoma Steel reported widened fourth-quarter loss wsj.com of C$364.7 million compared with C$66.5 million a year earlier, with tariff costs contributing to the deterioration. CF Industries shares hit record highs bloomberg.com on risks from the Iran war, with fertilizer markets tightening as the conflict threatens global supplies of nitrogen-based crop nutrients.