Public Markets 3h Briefing
×Energy Market Crisis
Oil prices wsj.com surged above $100 amid Middle East tensions, with Iraq's output falling to under one-third of pre-U.S. operation levels. European gas prices bloomberg.com jumped 30% as the war continues to disrupt energy markets, while Asian energy buyers bloomberg.com outbid rivals to secure fuel shipments. Bahrain's Bapco Energies bloomberg.com declared force majeure on operations impacted by the ongoing conflict.
Market Reaction
Stagflationary forces ft.com are building as a weakening US labor market combines with financial strains from the Iran conflict. Stagflation trades bloomberg.com are sweeping markets as Trump signals a widening war, with optimism for a quick resolution rapidly ebbing. The FTSE 100 bloomberg.com is expected to fall in an extending global selloff as markets tumble with oil soaring past $110 a barrel.
Global Economic Data
German industrial production bloomberg.com unexpectedly dropped at the start of the year, with factory orders also falling, tempering hopes for a swift recovery in manufacturing. Traders have boosted ECB rate bets bloomberg.com, now fully pricing two European Central Bank interest-rate hikes after soaring energy prices fueled inflation fears.
IPOs & Corporate Deals
Victory Giant Technology bloomberg.com, a Chinese PCB maker, is preparing for a Hong Kong listing that may raise over $2 billion as soon as April. Aier Eye Hospital bloomberg.com is also considering a Hong Kong listing, joining a growing queue of mainland Chinese companies. The G7 will discuss joint release bloomberg.com of emergency oil reserves, while UBS Group bloomberg.com increased its bonus pool by 10% and Agilent Technologies bloomberg.com agreed to acquire Biocare Medical in a $950 million deal.