Public Markets 3d Briefing
×Last updated: March 13, 2026, 5:30 PM ET
Energy Markets & Geopolitics
Brent crude settled above $100 bloomberg.com for the second consecutive session, marking the highest level in over three years as the Iran war disrupted Middle East energy flows. Total Energies halted production wsj.com across Qatar, Iraq, and UAE offshore operations, representing approximately 15% of the company's total output. The conflict is rippling through supply chains wsj.com far beyond the Middle East, with Thailand's oil refiners making rare purchases of North Sea Forties crude as Asian processors scramble for alternatives to Middle Eastern supplies. Meanwhile, Saudi Arabia is racing to bypass bloomberg.com the Strait of Hormuz, leading to a buildup of oil supertankers off the kingdom's Red Sea coast.
U.S. Politics & Policy
Judge James E. Boasberg quashed Justice Department subpoenas nytimes.com targeting Federal Reserve Chair Jerome Powell, criticizing the U.S. attorney's office for pursuing what appeared to be a politically motivated case. President Trump signed executive orders targeting housing affordability wsj.com, part of a broader effort to address voter frustration with homeownership costs. The administration is also preparing to dismantle NCAR nytimes.com, with proposals to transfer a supercomputer to the University of Wyoming and shift a space weather lab to private industry.
Global Markets & Trade
Market stress is building at the fastest pace bloomberg.com since last year's tariff shock, as the Iran war pushes oil prices higher, drives up borrowing costs, and strengthens the dollar. The conflict has broken a decades-long relationship bloomberg.com between crude oil and emerging-market currencies, pushing their correlation into negative territory. India's foreign exchange reserves fell by the most bloomberg.com since November 2024 as the central bank intervened to support the rupee amid volatility. Singapore disputed U.S. trade surplus data bloomberg.com, claiming it ran a deficit with America in 2024, challenging suggestions it's contributing to trade imbalances.
Corporate & Financial Developments
BlackRock's $220 billion model machine remains bullish on stocks bloomberg.com despite geopolitical tensions roiling asset classes. Charles Schwab expects 16% revenue growth bloomberg.com for Q1 as retail investors stay engaged amid economic uncertainty. Meanwhile, Vivid Seats debt sank further bloomberg.com into distressed territory after weak earnings and guidance. The Iran war has also jolted quant trading strategies bloomberg.com, with a $134 billion complex of systematic trades experiencing significant volatility as oil prices surged.
Technology & Innovation
Elon Musk's xAI is facing internal challenges wsj.com as more founders are pushed out amid faltering AI coding efforts. The billionaire's past playbook with SpaceX taking over xAI ahead of the orbital launch company's IPO is positioning the combined business for growth. However, concerns are mounting about AI's intensifying impact on workloads ft.com, with a new analysis of 164,000 workers showing technology is increasing work speed, density, and complexity rather than reducing it.
Emerging Markets & Commodities
China's state-backed iron ore trader temporarily eased restrictions bloomberg.com on BHP Group's grades after bans against the mining giant sent prices soaring. South Africa's mineral exploration investment dropped for a seventh consecutive year bloomberg.com, despite government ambitions to reverse the decline. Indonesia is facing an uphill battle bloomberg.com to keep its budget deficit within the 3% legal limit as Middle East tensions push oil prices far beyond initial assumptions.
European Markets
The euro fell against the dollar nytimes.com as concerns about economic fallout from higher oil prices outweighed bets on European Central Bank rate hikes. European airlines are positioned only for short-term disruption bloomberg.com as the Middle East conflict grinds into its third week, with carriers holding only partial hedges against fuel costs. Meanwhile, the UK's Companies House suspended online filing ft.com after a glitch put personal data at risk, allowing potential fraudsters to change details and upload accounts.
Asia-Pacific Developments
Australia's pension funds boosted currency hedges bloomberg.com to cushion global stock portfolios amid the local dollar's biggest annual surge in five years. India's Shapoorji Pallonji Group aims to raise $1 billion bloomberg.com through its first dollar bond sale as it refinances local-currency debt maturing in April. China has raised the yuan fixing for a record 15th straight week bloomberg.com, showing continued support for currency appreciation despite Iran war volatility.
Middle East & Energy Infrastructure
Iran has arranged special transportation bloomberg.com to return about 180 sailors from India as the conflict disrupts maritime operations. Middle East fertilizer firms continue loading despite Hormuz halt bloomberg.com, preventing storage capacity from overflowing. The European Commission is set to suspend duty-free sugar imports bloomberg.com for at least a year to stabilize prices within the bloc as global agricultural markets face pressure from energy price shocks.
Latin American Markets
Brazil's state-controlled oil giant Petrobras raised domestic diesel prices bloomberg.com just a day after the government announced federal tax breaks on fuels to shield consumers from surging costs. Venezuela's gradual return to international markets continues, with Italian energy company Eni SpA seeing potential to export Venezuelan gas bloomberg.com under a US-supported interim administration. The country is also allowed to sell fertilizers bloomberg.com to US companies as the Trump administration loosens sanctions amid tightening global supplies.
Financial Services & Regulation
The Federal Reserve is moving to loosen capital requirements ft.com for big US banks, a decision that Wall Street welcomed but critics say could weaken protections against another 2008-style crisis. The Commodity Futures Trading Commission issued new guidance bloomberg.com for prediction markets, asking exchanges to engage with regulators before opening markets vulnerable to manipulation. Meanwhile, the UK's Financial Conduct Authority warned it will take action bloomberg.com on mis-selling of 'second charge' mortgages after finding concerning practices.
Private Markets & Investment
Private credit is showing signs of financial crisis conditions ft.com, with worries arising that valuations on balance sheets don't match reality. Japan's main banking lobby plans to establish risk management guidelines bloomberg.com for leveraged loans as transactions soar in the country. Oaktree plans to buy a South Carolina insurer ft.com after the collapse of 777 Partners, while Danish drugmaker Leo Pharma invites bankers for a potential IPO bloomberg.com as it edges toward public markets after more than a century as a private company.
Real Estate & Infrastructure
Dubai real estate bonds are racking up steep losses bloomberg.com as the Iran war hammers their value and threatens to stall a borrowing binge in the United Arab Emirates. Meanwhile, venture capital is flowing into AI infrastructure nytimes.com, with SpaceX investor Baillie Gifford hailing the pre-IPO takeover of xAI as positioning the combined business for growth. The conflict has also sparked renewed interest in energy security nytimes.com, with proposals for new pipelines to ship natural gas from Alaska to Japan, Korea, and Taiwan for decades to come.