Public Markets 3h Briefing
×Last updated: March 12, 2026, 1:30 PM ET
Global Economic Outlook
The global economy is facing potentially lasting economic damage nytimes.com due to a breakdown in international trade, the war in Ukraine, and chaotic U.S. policymaking. Slovakia's largest fertilizer producer cut ammonia output bloomberg.com due to soaring natural gas prices, which further indicates the impact of the Middle East conflict on European industry. Furthermore, the conflict is boosting Russia's war chest, with Moscow raking in $150 million a day ft.com in extra revenue from surging oil prices. Bond traders are no longer fully pricing in bloomberg.com a Fed rate cut this year, highlighting rising inflation expectations.
Energy & Commodities
U.S. residential heating oil prices surged above $5 a gallon bloomberg.com, reaching their highest level since November 2022, as the war in Iran strains global diesel and crude flows. The price of fertilizer is sending U.S. producers' shares soaring wsj.com, while oil tankers are trapped in the Gulf ft.com as Iran widens attacks on shipping. As a result of the ongoing conflict, commodities hedge funds reap gains bloomberg.com from the market volatility. The Trump administration is set to suspend the Jones Act bloomberg.com to address surging oil prices.
Financial Markets
Shares of Morgan Stanley fell bloomberg.com alongside those of major asset managers after the lender limited withdrawals from its private credit funds. Private credit funds are bracing for a battle bloomberg.com with major banks. Tikehau Capital's private debt head compared the market turmoil bloomberg.com to an event one wants to leave but cannot. Wall Street is pushing an alternative bloomberg.com to bonds: an $80 billion category of equity funds.
Corporate News
Amazon seized a brief window bloomberg.com for a $54 billion global bond sale, with the company positioning itself as a safe bet in an increasingly unpredictable world. Stellantis is exploring deals bloomberg.com with Chinese carmakers to shore up its European operations. Lucid will launch 3 new models wsj.com as part of its midsize-vehicle expansion, while Rivian's more-affordable model will debut with a $57,990 price tag bloomberg.com. Pepkor Holdings Ltd. is seeking a banking chief bloomberg.com as it plans to open branches.
Geopolitical Developments
President Claudia Sheinbaum offered a back up plan bloomberg.com for Mexican election reform after the initial constitutional overhaul failed. The UK says Iran has likely begun laying mines bloomberg.com in the Strait of Hormuz. Colombian presidential candidate Paloma Valencia named Juan Daniel Oviedo bloomberg.com as her running mate.