Public Markets 3 Hours

Last updated: June 30, 2026, 11:31 PM ET

Currency & Emerging Markets

The yen hit a fresh 40-year low against the dollar, touching 162.77, as traders remain on alert for potential intervention from Japanese authorities alert for intervention. This historic slump is forcing investors to rethink currency strategies, according to Mizuho Bank. Meanwhile, bullish bets on the Chinese yuan are fading rapidly as options traders unwind crowded trades following the Federal Reserve's hawkish pivot. Indian traders anticipate reduced arbitrage returns from the Reserve Bank of India's funding squeeze.

Corporate & Dealmaking

Biotechnology firm Bridge Bio Pharma Inc. secured $1 billion in preferred equity from Sixth Street and KKR. In the mobility sector, Uber-backed Lime priced its initial public offering at $25 per share, raising $167 million in a deal underwritten by Goldman Sachs and JPMorgan. Alcoa agreed to acquire South32's Australian, Brazilian, and South African aluminum operations for up to $5.6 billion in a cash-and-stock deal. Chinese electric vehicle makers, including BYD, are increasing their use of domestically developed semiconductors to bolster national self-reliance.

Technology & AI

The U.S. government has lifted restrictions on Anthropic's most powerful AI models, allowing the company to re-release its Mythos and Fable systems re-release AI models. This move de-escalates a dispute with the Trump administration.

Markets & Economics

Gold held steady in early Asian trade, consolidating below $4,115 an ounce, according to Swissquote Bank, signaling a bearish consolidation zone. Japanese government bonds fell, tracking overnight declines in U.S. Treasurys as traders priced in potential Federal Reserve rate cuts. The global oil market is projected to swing back into oversupply, according to Goldman Sachs, as the impact of the Iran war diminishes and traffic through the Strait of Hormuz recovers. The conflict has also rewired China's petrochemical trade, enabling plants to boost exports and ease domestic gluts.

U.S. Politics & Policy

Vice President JD Vance's financial disclosure report revealed assets including cryptocurrency and real estate, with earnings up to $7.4 million last year, largely from book royalties. Two federal courts have blocked a Trump administration rule that could have narrowed eligibility for student loan forgiveness for public servants. Meanwhile, a Republican blockade in the House has paralyzed legislative efforts, stalling legislation and pressing for action on a voting bill.