Public Markets 3 Hours

Last updated: May 15, 2026, 5:30 AM ET

Energy & Geopolitics

Oil futures dropped 1.3% in early Asian trade as the Trump-Xi summit failed to yield clarity on trade or energy deals, while Brent crude edged above $107 amid Hormuz conflict fears. A surge in energy prices is reviving inflation-linked bonds, with investors rotating back into Treasury Inflation-Protected Securities (TIPS) as a hedge. The United Arab Emirates plans to double its Hormuz-bypass capacity by 2027, seeking to reduce reliance on the Strait amid escalating Middle East tensions.

Emerging Markets

Ghana’s stock market, the world’s best performer this year, is fueling bank IPO expectations as lenders capitalize on improved investor sentiment and economic reforms. In South Africa, Morgan Stanley remains upbeat on long-term reforms despite an oil shock that threatens inflation and may force interest rate hikes, even as the country evacuates a sub-Antarctic base due to delayed fuel shipments linked to the Iran conflict. Pakistan is leveraging diplomatic clout to secure Persian Gulf LNG shipments, easing its energy crunch through newfound geopolitical influence.

Technology & Chips

Kioxia, the Toshiba spinout, saw profits surge on AI-driven demand and plans to list American depositary receipts to broaden its U.S. investor base. Meanwhile, Nvidia’s outlook in China remains clouded after the Trump-Xi summit, as Chinese firms accelerate shifts to Huawei and other domestic chipmakers to reduce Western dependence. Investor appetite for late-stage tech remains strong, with HSG closing a $3 billion continuation vehicle anchored by ByteDance.

UK Political Risk

Gilts tumbled sharply after Manchester Mayor Andy Burnham’s pathway to challenge Keir Starmer raised concerns about potential fiscal loosening, while sterling fell against major peers as traders brace for political instability. The UK regulator is seeking cost cuts on Heathrow’s £31bn third runway project, demanding rival bidders be allowed to compete, adding to infrastructure sector uncertainty.

Corporate Moves

Syensqo shares jumped on earnings beat after adjusted EBITDA rose 6% sequentially, led by specialty polymers and composite materials. Boeing shares declined post-summit as Trump’s China deals disappointed, with no major aircraft purchase announcements. In South Africa, GoTyme Bank, backed by Patrice Motsepe, is making all employees shareholders to drive scale in the digital banking sector.