Public Markets 3 Hours

Last updated: May 13, 2026, 2:30 PM ET

Geopolitical Tensions & Energy Markets

Markets continued to digest the fallout from escalating Middle East conflict, with Hormuz crude flows plummeting 30% in the first quarter of 2026, signaling a major supply shock already impacting the commodity sector, which subsequently drove Treasury buyers to 5% yields on 30-year notes—a level unseen since 2007—due to soaring inflation expectations. The lingering effects of the Iran war are now filtering down to consumer costs, with analysts warning that automotive maintenance expenses will become pricier as supply chains for industrial sectors face disruption. Furthermore, the shifting global power dynamic was evident as the war in Iran further cemented Beijing’s advantage over Washington in securing access to rare-earth minerals critical for replenishing dwindling U.S. weapons stockpiles.

US Public Offerings & Corporate Finance

The US IPO market saw significant activity, led by the successful debut of geothermal developer Fervo Energy, which rose 33% above its offering price, ultimately valuing the Google- and Gates-backed firm at approximately $7.7 billion following its upsized $1.89 billion offering. This surge in clean energy valuation contrasted with other corporate maneuvers, as Ford Motor shares climbed after a positive assessment from Morgan Stanley focused on the automaker’s energy storage division, potentially overshadowing traditional auto sales concerns. Elsewhere in corporate deals, Northeastern University secured a $202.7 million windfall following its acquisition of Marymount Manhattan College, largely due to the value of the acquired Manhattan real estate holdings.

European Markets & Deal Flow

Activity in Europe saw specialized listings and major corporate restructuring agreements. Italian gold dealer Gens Aurea SpA is preparing to launch an initial public offering in Milan aiming to raise as much as €500 million ($351.3 amid persistent market volatility. Simultaneously, Swedish firm Stegra AB unlocked €1.5 billion in undrawn credit lines after reaching an accord with its lenders, providing necessary liquidity to finalize a major undisclosed project. In other corporate news, UK retailer Boots is finalizing the appointment of former Currys boss Alex Baldock as Chief Executive, signaling readiness for a potential London listing next year.

Political Undercurrents & Sector Speculation

Political developments continue to influence specific sectors, even in unusual ways; for instance, the political climate surrounding the upcoming Trump-Xi summit sparked investor interest in auto stocks, while Ford's shares responded positively to bullish energy sector sentiment. On the domestic front, Eric Trump’s involvement in a China trip raised eyebrows due to a memorandum of understanding signed by a family-linked group with a chipmaker previously flagged by Congress. Meanwhile, in a move supporting long-term energy security, Swiss nuclear power plants were deemed economically viable for up to 80 years, extending their operational lifespan by two decades beyond prior estimates.