Public Markets 8-Hour Briefing
×Market Overview
The US service economy expanded rapidly in February, reaching its highest pace since mid-2022. Investors are also rushing into US money-market funds, with total assets hitting a record $8.271 trillion. Citadel Securities sees a bullish signal in the market, despite ongoing volatility.
Deals & M&A
Blackstone financed its Champions Group acquisition with a private credit loan. TKO Group Holdings launched a nearly $1 billion loan in the leveraged loan market.
Corporate News
Ford reported lower US sales in February due to declines in electric and hybrid vehicles. Brown-Forman said sales in developed markets continue to fall. Wizz Air cut its annual profit guidance due to the conflict in the Middle East. Campari anticipates sales and earnings growth will be tempered by trade tariffs.
Geopolitical Impact
Jet fuel prices are soaring as oil traders grapple with the fallout of the Iran war. Container shipping companies are halting bookings and diverting vessels due to increasing security risks in the Middle East. Supertankers have begun to avoid the Persian Gulf.
Financial Markets
Bets against Blue Owl hit an all-time high, with investors increasing short positions. Ohio Dominican University missed a bond payment. African dollar bonds recovered, despite investor anxiety over the Iran war.
Private Credit & Alternatives
Apollo’s Zito sees private credit turmoil lasting into next year. KKR expects consolidation to emerge in the alternative asset management sector. HPS CEO Kapnick discussed the next wave in private credit.
Industry Analysis
Medtronic’s MiniMed IPO is sparking analyst debate. KeyBanc is shuffling its chemicals playbook amid the Iran conflict. Ares Management’s Solomon noted the higher interest rate environment has created discipline in real estate markets.
Economic Indicators
The Federal Reserve’s Beige Book showed weaker consumer sales. Manufacturing rose despite the impact of tariffs. Canada's Labor Productivity edged down in the final quarter of 2025.
Legal & Regulatory
Cushman & Wakefield is being sued over climate risk to worker retirement savings. The Justice Department is probing the US fertilizer market for potential price fixing. Regulators also need to play catch-up on private-credit risk.
Technology & Innovation
Apple is using low prices to attack rivals during the memory-chip crunch. AI tools are beginning to displace established business software.
Political & Social
Prediction markets picked the Texas Democratic primary winner. The Epstein files were released.
Other Notable News
Airlines based in the Gulf are facing the worst-case scenario. Shipping has collapsed through the Strait of Hormuz. Baker Hughes is seeking to sell $10 billion in cross-border bonds.