Public Markets 3h Briefing

Market Moves

Gold slumped bloomberg.com more than 5% after a four-day rally as a stronger dollar and elevated yields offset safe-haven demand from Middle East conflicts. Oil prices ft.com remained below $100 a barrel despite Hormuz disruptions, as storage fills and initial supply concerns ease. UAE markets bloomberg.com are set to resume trading on March 4 after a two-day closure due to the regional war.

Private Credit Pressure

Blackstone's shares bloomberg.com fell to a low after its private-credit arm saw record outflows, with President Jon Gray dismissing concerns as market "noise." Blue Owl ft.com slid below its IPO price as investor redemptions and AI disruption fears grip the sector. Deutsche Bank bloomberg.com warned that a $143 billion pile of leveraged loans in business development companies poses a systemic selling risk. Apollo's Rowan bloomberg.com cautioned that a "shakeout" in private credit is inevitable and not short-term.

Investor Outlook

Soros' Fitzpatrick bloomberg.com told Bloomberg Markets that investors face a "painful" 18 to 24 months ahead, citing geopolitical risks and potential AI disruption across assets.

Policy & IPOs

Vale Base Metals bloomberg.com is accelerating plans for a potential IPO by midyear, targeting investors in its nickel-and-copper business. Fed's Williams bloomberg.com said the economic fallout from the Iran conflict remains "reasonably muted," depending on oil price duration.