Public Markets 3 Days

Last updated: June 25, 2026, 2:30 AM ET

Public Markets Briefing

Energy & Commodities

Oil futures declined toward pre-war levels as shipping in the Persian Gulf resumed, with Brent crude slipping below $73 a barrel. This pullback comes as Qatar revives crude sales to Asia, and insurers slash war premiums for Strait of Hormuz vessels by more than half, reflecting easing Middle East tensions. Palm oil futures also saw their biggest drop in over a month, tracking declines in crude and soy oil. Despite the broader commodity retreat, Japanese liquefied natural gas stocks are seen benefiting from Middle East supply diversification efforts.

Equities & Technology

Asian stocks rose broadly as Micron Technology Inc. delivered an upbeat forecast that reignited confidence in the artificial intelligence trade, a sentiment echoed by SK Hynix's surge following its U.S. listing plan. However, fears about the sustainability of the AI boom caused a tech-sector rout, with shares like Alibaba sliding to a 16-month low after accusations of illicit AI model access. Thailand has emerged as a surprise AI stock winner in Southeast Asia. Meanwhile, South Korean regulators are delaying new single-stock options amid record volatility in its equities market.

Fixed Income & Currencies

Japanese government bonds extended their rally, mirroring overnight gains in U.S. Treasurys. However, concerns are mounting over Japan’s fiscal policy, as Prime Minister Sanae Takaichi’s $2.3 trillion investment plan risks pressuring its government debt market, a sentiment reflected in the weakest demand for 20-year JGBs in over a year. The Hong Kong dollar is nearing the weak end of its range due to low volatility and cheap rates. The Singapore dollar consolidated ahead of key U.S. economic data, while the euro sank to a one-year low as falling oil prices ease pressure on the European Central Bank.

Automotive & Industrials

Volkswagen is selling a 51% stake in its engine subsidiary Everllence to Bain Capital as part of a portfolio streamlining effort. U.K. auto manufacturing saw a slight rise in May, with the U.S. being the largest export market. China's Jinko Solar Co. is targeting breakeven this year as government measures aim to ease overcapacity in the solar sector. In the building materials sector, CRH Plc agreed to acquire Arcosa for $8.5 billion, marking a record deal for the Irish company.

Real Estate & Infrastructure

Australia’s housing downturn has wiped A$185 billion ($128 billion) off the value of the nation’s top two markets this quarter, which is likely to impact consumer wealth. In London, Workspace’s valuation is facing a rut, with the commercial property market showing signs of slowing. Data center demand is poised to double Australia’s power needs by 2050, driving significant growth in electricity consumption.

Monetary Policy & Inflation

The European Central Bank’s priority remains price stability, a task made somewhat easier by retreating oil prices, according to Governing Council member Ante Zigman ECB's Zigman Says Price Stability Is Key. Vice President Boris Vujcic stated that the ECB’s rate hike decision was "robust" given inflation will remain higher for longer ECB's Vujcic Sees Inflation Remaining Higher for Longer. In Australia, the central bank is betting that its rate hikes will curb inflation without significantly impacting jobs, citing the Phillips Curve RBA Cites Phillips Curve in Bet Its Rate Hikes Won’t Hammer Jobs.

Cryptocurrency & Digital Assets

Bitcoin faces pressure from a massive $10 billion options expiry, exacerbating struggles with fading institutional demand and macroeconomic headwinds. Iranian entities have reportedly moved over $3.84 billion through the crypto exchange Coin Ex, highlighting its use as a hub for illicit funds. Brera Ilch FC, a Mongolian football club, struggled with its cryptocurrency pivot, as did Cathie Wood's investment in the group, which is now facing significant losses Cathie Wood’s bet on football group turned crypto hoarder backfires.

Corporate & Dealmaking

Walmart is acquiring advertising tech firm Vibe.co for $1.4 billion, its largest deal in two years. Hollywood power broker Ari Emanuel is in advanced talks to buy theatre group ATG Entertainment for £4.5 billion. Qualcomm is acquiring Modular Inc. for approximately $3.9 billion in stock to bolster its AI software capabilities. In the biotech sector, many deals this year have been for early-stage assets, driven by factors beyond patent cliffs.

Economic Trends & Consumer Behavior

Americans are expressing gloom about AI, largely due to concerns about the labor market and social safety net. The pursuit of passive income is becoming the new American dream as many perceive 9-to-5 jobs as a dead end Forget Work. Passive Income Is the New American Dream.. Record June temperatures are putting up to 4,000 surgeries at risk due to hospital air conditioning failures. Meanwhile, Parisians are seeking relief from soaring temperatures by swimming in an old industrial canal.

Geopolitics & International Relations

The U.S. Senate Republican leadership reversed course on Iran after President Trump’s remarks, rejecting a resolution to direct him to end the war. Ukraine is escalating attacks in Crimea to pressure Russia, while thousands are fleeing strongholds in Ukraine's Donbas region as Russian forces advance Thousands Are Fleeing Ukraine’s Donbas Strongholds as Russia Pushes Closer. Myanmar recently experienced its highest monthly civilian death toll since the conflict began in 2021.

Market Regulation & Policy

China has urged domestic rating firms to curb the concentration of AAA ratings in its bond market, a step towards better credit risk assessment. Kalshi Inc. has added India to its restricted list after the country’s technology ministry declared prediction markets illegal. The U.S. Justice Department has made it easier to bypass pollution controls on pickups by dropping criminal prosecutions for installing "defeat devices."