Public Markets 8-Hour Briefing
×Market Turmoil
US stocks rebounded Wednesday as strong jobs and services data offset Iran war concerns. Wizz Air cut profit guidance as Middle East conflict disrupted flights and fuel costs. Jet fuel prices surged globally as oil traders grappled with Iran war fallout. Aluminum prices hit 2022 highs after Bahrain's Alba declared force majeure on deliveries.
Geopolitical Tensions
Supertankers began abandoning planned voyages into the Persian Gulf amid Strait of Hormuz turmoil. Shipping collapsed through the vital strait as war between US, Israel and Iran halted flows. Iran continued loading crude at Kharg Island two days after US air strikes. Gulf insurance costs soared 12-fold despite Trump's transit guarantee.
Energy Markets
US crude oil stockpiles posted a weekly increase of 3.5 million barrels. Middle East oil storage is filling fast with Hormuz blocked, threatening output cuts. Russian oil remains cheap despite global supply threats. Baker Hughes seeks to sell $10 billion in cross-border bonds to fund Chart Industries acquisition.
Corporate Developments
Blackstone tapped private credit for a $1 billion Champions Group buyout. Victory Capital CEO called Janus offer a "superior proposal" despite Trian's competing bid. Apple used low prices to attack rivals during memory-chip crunch. Moderna shares jumped as settlement removed major legal overhang.
Private Markets
Apollo's Zito sees private credit pain lasting up to 18 months. BlackRock's Kapnick says big firms will gain from credit turmoil. KKR's Nuttall expects consolidation emerging in alternative assets. State Street and Apollo discussed private markets going mainstream.
Technology & AI
Bitcoin and crypto stocks surged amid relief rally for risky assets. Anthropic ARR reached $19 billion on Claude Code strength. Snowcap Compute envisions computing beyond semiconductors. Companies are vibe coding their own CRMs using AI tools.
Economic Indicators
US services activity expanded in February at fastest pace since mid-2022. Canadian labor productivity edged down in Q4 2025. US private payrolls increased more than expected in February. Emerging-market ETFs saw inflows despite market rout.
Financial Sector
Goldman Sachs sweetened terms on loan for DuPont unit's sale. Clearlake and Goldman examined private market liquidity evolution. KPMG picked ex-Australia boss Gary Wingrove as next global chief. Fed granted Kraken access to payments system in first for crypto group.
Regional Markets
KOSPI fell 12% in a single day amid massive foreign investor liquidation. European natural gas prices dropped amid reports of secret Iran peace outreach. South East Water faces fresh fines over persistent outages. African dollar bonds hit by Iran as investors cut risk.
Policy & Regulation
DOJ probes US fertilizer market for possible price fixing. Bank of Canada governor says regulators need to catch up on private-credit risk. BIS defends global rulemaking role against US criticism. Bondi rescinded policy banning some DOJ employees from partisan events.
Industry Trends
BTIG joined Goldman and Citadel in bullish stocks call. Broadcom earnings face AI wall of fear despite strong expectations. KeyBanc shuffled chemicals playbook amid Iran conflict. BofA listed three top automaker picks for 2026.
Market Analysis
Citadel Securities' Rubner lifted bearish call, sees March bounce. Wolfe warned S&P 500 may drop to 6500 before staging rally. Morgan Stanley explained why gold is falling despite Iran escalation. Fed's Miran said rate cuts still appropriate despite Middle East war.