Public Markets 3h Briefing
×Market Moves
The S&P 500 bloomberg.com fell 1.2% marking its first two-week loss since June. Entrata bloomberg.com is working with Goldman Sachs and JPMorgan on an IPO. The war in Iran is forcing investors to reevaluate one of their most profitable stock strategies, leading some to conclude that the "Sell America, Buy Asia" trade has reached an inflection point ( bloomberg.com. Gulf oil producers face a race to resume exports before storage fills up, with analysts estimating Saudi Arabia has roughly two weeks before needing to cut output ( ft.com.
Macro & Policy
Japan may intervene to buy yen investing.com amid speculation. The Chinese government is prioritizing stability this year amid geopolitical shocks that threaten the global economy, former PBOC adviser David Li Daokui told Bloomberg ( bloomberg.com. Iran attacks show the perils of following America’s economic lead, with a growth plan of renewable energy and diversified trade being far better than guzzling fossil fuels and aligning with the US ( ft.com.
Deals
Francisco Partners bloomberg.com completed a $2.2 billion take-private of Jamf. TPG Inc. is considering options for Asia One Healthcare Sdn., including a sale or initial public offering, amid increasing deal activity for private equity-owned assets ( bloomberg.com. Silverflow secured $40 million as a near-$1 billion transaction surge draws new backers ( investing.com.
FX & Commodities
Emerging-market currency volatility has surged above that of developed-market peers this week for the first time since May, breaking a stretch that was the longest on record ( bloomberg.com. Coal prices jumped as utilities seek alternative to gas, with energy crisis sparked by the Iran conflict raising the prospect of restarting mothballed coal plants ( ft.com.
Energy
At least 3 LNG tankers diverted towards Asia on their way to Europe as Middle East turmoil spurred competition for the fuel, while freight rates set fresh records and added to market volatility ( bloomberg.com. The war in Iran punctured the favored strategy of 'Sell America, Buy Asia'.