Public Markets 3 Hours

Last updated: July 2, 2026, 8:30 AM ET

Public Markets

Energy & Commodities

Saudi Arabia has boosted crude exports from within the Persian Gulf to their highest levels since the Iran-Iraq war, as regional producers increase shipments following an interim peace deal. This surge in oil flow from inside the Gulf comes as fewer gas tankers are making the still-risky crossing of the Strait of Hormuz, impacting LNG buyers negatively as Qatar’s export revival falters fewer gas tankers. Meanwhile, French heatwaves are decimating agricultural output, with as much as 30% of corn production lost in Europe’s top farming nation and hundreds of thousands of poultry fatalities reported heat wave kills poultry.

Corporate & Dealmaking

JPMorgan Chase & Co. is participating in a roughly $7 billion debt financing package for a Qatari firm's Syrian projects, representing a significant foreign investment commitment to the country. In the fertilizer sector, Yara is acquiring a Texas ammonia plant for $1.3 billion, a move aimed at diversifying energy exposure and improving economies of scale Yara to buy plant. Luxury goods giant Chanel has made a rare acquisition, snapping up the storied French shirtmaker Charvet to expand its offerings beyond handbags Chanel snaps up shirtmaker.

Markets & Trading

Record leverage is permeating the financial system, with hedge funds, banks, retail traders, and money market funds facing potential mounting losses from leveraged exchange-traded funds, which are being used to magnify bets on assets like AI-related stocks leveraged ETFs are tip; these funds are being used to turbocharge AI bets. Such strategies are also causing "quant tremors" that are roiling systematic investors quant tremor strikes investors. In fixed income, Treasuries edged lower ahead of the June jobs report, with traders assessing Federal Reserve Chairman Kevin Warsh's dovish comments on inflation Treasuries slip before payrolls. Fund managers are adopting a patient stance regarding the weakening yen, despite speculation about potential intervention from Japanese authorities global funds keep calm.

Economics & Regulation

The U.S. jobs market remains solid, underpinning a pledge by Federal Reserve Governor Kevin Warsh on inflation solid jobs market underpins. Consumers are increasingly shunning mid-sized product packs due to price pressures, shifting towards bulk or budget options as affordability becomes paramount for many shoppers consumers shun mid-sized packs. In energy regulation, the U.S. Federal Energy Regulatory Commission (FERC) has issued an ultimatum to grid operators regarding the connection of large energy consumers like data centers, demanding justification or revision of current practices within 60 days US energy regulator ultimatum. Trade negotiations between China and the U.S. are targeting tariff reductions on certain agricultural products, aiming to preserve a broader trade truce China and US target tariffs.