Public Markets 3 Days

Last updated: June 15, 2026, 11:32 PM ET

Energy & Commodities

Oil futures tumbled 1.3% in early Asian trade as the U.S.-Iran interim agreement to reopen the Strait of Hormuz sparked optimism for renewed supply flows, while gold extended gains to $2,340/oz as easing inflation concerns and a weakening dollar supported the precious metal. Morgan Stanley slashed its oil forecasts substantially for coming quarters, citing the potential for revived Middle Eastern output that could add millions of barrels to daily global supplies. The U.S. oil reserve fell to its lowest level since 1983 as the Trump administration drew down emergency stockpiles to combat surging fuel prices, with 172 million barrels released this year alone. U.S. petrochemical prices softened as the Iran premium unwound, though Gulf Coast operational issues limited deeper declines. Brent crude may fall to $80/barrel by year-end if the waterway remains open, according to Commonwealth Bank analysts.

Fixed Income Markets

Japanese government bonds reversed early losses and rose in Tokyo morning trade as easing inflation concerns from the U.S.-Iran deal outweighed expectations for Bank of Japan tightening, with traders awaiting the BOJ's rate decision later in the day. Chinese sovereign bonds attracted foreign inflows in May for the first time in over a year, as the market showed resilience while global debt markets faced brutal selloffs. However, Indonesian rupiah corporate bonds saw their highest volatility in four years, threatening to dent record issuance as government policy swings created uncertainty. Waste Management of Canada prepared a C$750 million bond sale while Montreal's REM transit system readied C$2 billion in municipal bonds, both testing investor appetite amid geopolitical uncertainty. Brazilian sovereign wealth fund Danantara explored 30-year bonds just days after its debut sale, and Birkenstock lined up its first bond offering in five years to fund share buybacks.

Equity Markets & IPO Activity

Global equities rallied on the U.S.-Iran interim deal, with the Dow industrials closing at record highs and Asian markets soaring on risk-on sentiment. SpaceX allocated $600 million to European retail in its record $86.2 billion IPO, though European investors purchased less than 1% of the offering. Retail brokerage customers received at least one SpaceX share each, underscoring efforts to democratize the massive listing. The IPO's success helped steady shaky markets and emboldened investors to pile into space-related assets, from satellites to laser communications. Meanwhile, Fox acquired streaming platform Roku for $22 billion, creating the third-largest U.S. television entity by viewing share, though the deal stretched banks' equity funding capacity amid the AI rally and massive stock listing.

Corporate Credit & Capital Markets

U.S. companies rushed to raise over $40 billion in debt on Monday, capitalizing on investor optimism following the Iran agreement as they sought to lock in favorable financing terms. Blackstone's Ancestry unit hired Bank of America for a $2 billion loan to refinance existing debt, while Aerospace supplier Doncasters sought $746.7 million in its U.S. IPO. Banks lined up £5 billion in debt packages to back EQT's potential takeover of British testing firm Intertek, and IG4 Capital offered to buy Raizen debt in pursuit of a majority stake in the Brazilian sugar and ethanol producer. Nuveen's private bond chief scooped up AI infrastructure debt, favoring "boring, plain vanilla" assets over flashy data center and chip plays amid the market frenzy.

Asia-Pacific