Public Markets 3h Briefing
×Energy Markets
Oil producers bloomberg.com seized the opportunity to lock in future prices as crude surged by the most since June. The spike followed US and Israeli strikes on Iran, which sent Brent crude moderating an early double-digit surge to a 6.7% climb. Energy shares bloomberg.com rallied alongside oil futures, with defense stocks surging as Middle East attacks escalated.
Market Volatility
The S&P 500 rebounded from an early 1.2% drop to finish up less than 0.1%, as a rally in energy and tech stocks helped offset initial declines. Treasuries bloomberg.com faced a rout as inflation fears reignited, with investors worried about a protracted Middle East conflict keeping crude prices elevated. The dollar and gold rallied as investors sought safe havens.
ETF Flows
ETFs bloomberg.com continued attracting investors, with David Sharp of Vanguard noting strong capital markets activity. Energy ETFs bloomberg.com saw potential record inflows as escalating Iran conflict drove positioning before full hostilities. The Breakwave Tanker Shipping ETF (BWET) became the world's top-performing ETF, soaring on rising oil-shipping costs amid the Iran conflict.
Corporate Moves
LS Power bloomberg.com is seeking to raise as much as $2.1 billion from the sale of a stake in NRG Energy Inc. PayPay Corp bloomberg.com and SoftBank Group are seeking to raise up to $1.1 billion in the digital payments firm's US IPO, which would be the biggest-ever listing for a Japanese company on American exchanges.
Regional Markets
Asian stocks bloomberg.com faced fresh pressure Tuesday as the Iran war sent oil prices surging, stoking inflation fears that weighed on bonds. The conflict created disruptions that "far surpass" past Middle East conflicts, with airlines grappling with thousands of flight cancellations and higher fuel costs.
Tech Sector
Nvidia stock investing.com slipped on reports of US chip export caps to China. Meanwhile, Audi bloomberg.com faced challenges with its no-rings China EV strategy, betting a sleek, tech-heavy electric vehicle would replace its iconic four-ring branding.
Real Estate
Two Canadian real estate funds bloomberg.com halted redemptions as they eye going public, with Avenue Living Asset Management suspending withdrawals at two multibillion-dollar funds while boards consider public offerings.
Private Markets
Blackstone's flagship private credit fund ft.com faced a wave of redemptions, with investors pulling net $1.7 billion over the past month as industry strains intensified.