Public Markets 3 Hours

Last updated: May 13, 2026, 11:30 AM ET

Inflation & Macro Markets

Equities faltered following wholesale data after the Producer Price Index leapt at its fastest pace in four years, confirming persistent price pressures that day after consumer inflation figures also showed a surge. This renewed inflation angst pushed the US 10-year Treasury yield to its highest level since July, as markets aggressively increased wagers for interest rate hikes within the next year. Meanwhile, Turkey’s central bank is straining to meet its inflation targets due to the energy price shock emanating from the conflict in Iran, while Pakistan’s economy accelerated despite rising crude prices threatening its import-heavy structure.

Corporate Activity & Private Markets

In M&A and investment news, Agnico Eagle Mines committed C$14 billion ($10.2 to Ontario mining assets, marking one of the largest private sector contributions the province has seen, while Bharti Airtel approved a $2.9 billion stock swap to increase its controlling stake in Airtel Africa. On the litigation front, Skechers USA increased its offer to institutional investors challenging 3G Capital’s $9.4 billion acquisition of the footwear firm after initial settlement talks stalled. Separately, chips startup Fractile secured $220 million in funding from investors including Factorial Funds and Peter Thiel’s Founders Fund to enhance AI query speeds, illustrating continued private capital flow into specialized tech.

Geopolitics & Commodity Flows

Global energy markets are reacting to sustained geopolitical tension, as OPEC revised down its demand forecast to 1.17 million barrels per day for the year following disruptions. The strain of the Iran conflict saw North Sea oil trade at a discount for the first time as immediate fears subsided regarding a major supply shock, though Ukraine is planning for higher corn exports next season despite fertilizer shortages linked to the conflict. In infrastructure finance, Senegal is targeting a $7.5 billion gas project to bring its Yakaar-Teranga discovery online, aiming to eliminate costly state energy subsidies.

Regulatory & Political Maneuvering

Regulatory and political spheres saw dramatic developments, including the South Carolina Supreme Court overturning the high-profile Alex Murdaugh murder conviction due to jury tampering by a court clerk. In Washington, the administration began issuing refunds totaling $160 billion plus interest to businesses affected by duties later deemed illegal, even as the President criticized the courts overseeing the process. Furthermore, tobacco industry interests secured a favorable ruling on vaping regulations, siding with major donors over the resigned F.D.A. commissioner, while chaos erupted in the Philippines Senate as police moved to arrest an ally of former President Duterte.