Public Markets 3 Hours

Last updated: June 28, 2026, 5:30 PM ET

Energy & Commodities

Aviation firms are bracing for potential cost increases of up to $127 billion due to a shortage of carbon credits, with Emirates facing the highest expense given its reliance on long-haul routes, according to MSCI Carbon Markets. The situation is exacerbated by lingering energy shockwaves from the Iran conflict, which continue to drag on domestic recoveries and depress currencies like the New Zealand dollar. Meanwhile, Iran is maintaining its control over the Strait of Hormuz as critical leverage in peace talks with the U.S., signaling a willingness to risk a cease-fire to preserve this strategic advantage.

Public Markets & Policy

The Justice Department has rebranded its environmental division to the Energy and Natural Resources Division, dropping the word "Environment" as part of a new mission statement. In fixed income, major bond managers are concentrating on specific market areas to navigate the early stages of the Kevin Warsh era, seeking a sweet spot new strategies. This comes as New York City's LGBTQ+ community, while optimistic about local leadership, faces challenges from the current national administration, a sentiment reflected in the anxiety tempering hope at recent Pride celebrations.