Public Markets 8-Hour Briefing
×Market Moves
The S&P 500 dropped 1.2% in its worst week since June, marking its first two-week loss since June. Entrata is working with Goldman Sachs and JPMorgan on an IPO, signaling continued private equity interest in public listings. Goldman Sachs Chair David Solomon discussed the market reaction to the Iran attacks, his views on AI, and private credit during an interview with Haidi Stroud-Watt.
Macro & Policy
Japan may intervene to buy yen amid speculation over the escalating conflict. The U.S. Senate rejected a measure to halt the Iran war, maintaining the current trajectory of military action. Gold edged higher as the dollar declined and the war entered its sixth day, reinforcing its appeal as a safe-haven asset.
Deals & M&A
Blackstone financed its acquisition of residential services provider Champions Group with a $1.1 billion private credit loan, highlighting private credit's role in funding buyouts. KKR Co-CEO Scott Nuttall discussed the firm’s evolution into a diversified global investment platform and its dealmaking priorities at the Bloomberg Invest Conference.
Global Markets
South Korean equities bounced back after their biggest one-day slump, as bargain hunters returned to a market battered by panic selling. Asian currencies consolidated against the dollar, potentially supported by risk-on sentiment from Wall Street’s gains. The ongoing conflict in the Middle East pushed gold higher, with investors seeking safety amid geopolitical uncertainty.
Market Wrap
The market rebound followed yesterday’s dip, with South Korea leading Asian equities higher. Ecuador is eyeing a $4 billion bond sale return, while Japan’s central bank may intervene to support the yen. Gold’s surge to a 16-week high underscored risk-off demand, though the Iran war’s resolution remained uncertain.