Public Markets 3 Days

Last updated: June 11, 2026, 2:35 AM ET

Energy & Commodities

Oil futures jumped sharply after the United States and Iran exchanged fire for a second day, with Brent crude rising to $72.80 per barrel as fears intensified over potential supply disruptions through the Strait of Hormuz. The conflict has created a "super-squeeze" in metals markets, with copper falling to a three-week low around $4.15 per pound while aluminum processors in China face record-low processing fees amid feedstock shortages. Despite the volatility, fertilizer prices in the U.S. dropped to pre-war levels, giving up all gains from the initial Iran conflict surge and easing concerns about food inflation pressures. In Asia, Abu Dhabi National Oil Co. sold bumper volumes of Persian Gulf crude to Asian refiners in the first tenders of their kind since the Iran war began, while Kuwait's oil chief sought pipeline alternatives to circumvent the threatened Hormuz closure.

European Markets & Monetary Policy

European equities slid to one-month lows as the Middle East conflict showed little signs of abating, with the Stoxx 600 dropping 1.8% amid broad-based selling across sectors. The European Central Bank is poised to raise interest rates for the first time since 2023, with Bank of France Governor Emmanuel Moulin confirming that inflation forecasts will be increased due to the Iran war's impact on energy prices. In fixed income, Thailand's long bond yields attracted funds offering the steepest yield curve in emerging Asia, while French state-backed lender Bpifrance launched SME loan-backed bonds to open a new European secured notes market. Market participants remain increasingly selective on data center bonds, according to Citigroup analysts, as investors scrutinize financing deals tied to artificial intelligence infrastructure buildouts.

Technology & Artificial Intelligence Infrastructure

Oracle's cloud revenue surged 47% year-over-year, including a 93% jump in cloud-infrastructure revenue, though shares dropped as much as 8% in after-hours trading after flat revenue guidance and plans for a $70 billion data center build-out. Amazon inked a $17.5 billion loan as its artificial intelligence borrowing frenzy intensified, while KKR launched a $10 billion data center group led by former AWS chief Andy Jassy. Meta partnered with Reliance Industries to build its first AI data center in India, adding to global infrastructure investment totaling tens of billions. The funding surge reflects companies' voracious appetite for capital, with SpaceX and Alphabet among those raising equity and debt at the fastest pace in decades.

Asia-Pacific Equity & Currency Markets

Shares of Alibaba Group and JD.com slid in Hong Kong trading after China's market watchdog reprimanded top e-commerce players for misleading sales promotions, extending losses in a sector already under pressure. South Korea fined Coupang $410 million over a personal data breach affecting nearly two-thirds of the population, marking the largest ever penalty imposed on a single company in the country. The Singapore dollar consolidated against the greenback but faces downward pressure from rising geopolitical risks, while Taiwan's five-year government bond yields jumped to 1.85%, their highest level since 2008 amid tighter banking liquidity and growing rate expectations. Indonesian bonds resumed their decline as a surprise interest-rate hike provided only temporary relief, with investors focusing on broader economic concerns.

Central Bank Watch & Policy Outlook

Bank of Japan Governor Kazuo Ueda's hospitalization fueled market nerves ahead of next week's policy meeting, with investors questioning the central bank's messaging even as they remain convinced officials will maintain their cautious approach. Turkey's central bank held its benchmark rate steady at 50% despite rising prices driven by the Iran war, using economic cooling as cover to avoid further tightening. The People's Bank of China continued supporting the yuan in offshore trading as Asian central banks collectively push back against currency pressures originating outside their borders. Bond investors are now paying more to hedge the $9 trillion S&P 500 rally as sentiment shifted from fear of missing out to fear of getting wiped out ahead of Federal Reserve meetings.

Middle East Conflict Economic Fallout

Europe's imports of diesel and jet fuel stagnated for a second month in May, piling pressure on regional energy supplies as the Iran war grinds on and reduces shipping through the Strait of Hormuz. Crop and fertilizer markets wiped out the Iran war risk premium as fears of prolonged supply disruptions faded, though energy prices continue to bite with inflation accelerating to its fastest pace in three years. The conflict has propelled China's cleantech industry forward as disruption to global energy supplies sparks demand for alternatives, while big oil companies balked at Trump's invitation to drill in Alaska's Arctic National Wildlife Refuge amid shifting political winds.

Private Markets & Investment Activity

Private equity firms partied at their annual jamboree even as limited partners wait for distributions and firms struggle to sell holdings at desired valuations. BlackRock launched a space ETF for European investors that will add newly listed companies within 10 to 30 days, while European funds split on buying SpaceX shares over governance concerns tied to sustainability disclosure rules. The industry's fundraising continues despite headwinds, with SpaceX leaving some banks peeved over junior roles in the IPO lineup that carry small fees and no credit allocation. Meanwhile, investor tied to troubled bank loans faced criminal fraud charges in the latest fallout from commercial real estate portfolios.

Asia Infrastructure & Renewable Energy

Hanuman Wind Power postponed its junk bond offering for a second time after failing to attract desired investors, clouding prospects for the Hong Kong-based unit of Thailand's troubled Energy Absolute Pcl. Nippon Steel raised ¥90 billion ($560 through its first straight-bond offering since acquiring U.S. Steel, while American Industrial Partners led creditors in taking control of Innovative Chemical Products Group through debt-for-equity swaps. Mitsubishi Heavy Industries powered to an $82 billion order book driven by AI and defense demand, though analysts question whether the company is spending fast enough to secure future growth. The renewables sector faces ongoing challenges, with India weighing export rule exemptions for commodity traders amid sweeping new controls.