Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 2:30 AM ET
Energy Markets
Oil prices retreated from session highs as technical selling emerged after Brent crude briefly touched $102/barrel amid Middle East tensions. The US Treasury's waiver to purchase Russian crude from 30 tankers in Asian waters potentially frees 19 million barrels, adding supply pressure to already volatile markets. Malaysian officials warned that higher oil prices will increase subsidy costs, while the Philippines is reviewing its 30-year-old oil liberalization law to better manage fuel price volatility.
Currency Markets
The yen weakened to July 2024 lows as the Iran conflict pushed oil prices higher, while the Singapore dollar consolidated against the dollar amid position adjustments. The UAE cut crude shipments to onshore partners by 20% for March, redirecting flows to Fujairah port outside the Strait of Hormuz, as Gulf states have already lost $15 billion in energy revenues since the conflict began.
Precious Metals
Gold edged higher in Asian trade as investors sought safe-haven assets amid ongoing Middle East conflict. The yellow metal's resilience reflects broader market anxiety about energy supply disruptions and their inflationary implications, with traders monitoring developments in the Strait of Hormuz where millions of barrels remain trapped.
Technology & AI
Chinese tech giants face valuation pressure as Open Claw AI software hype spreads, with investors weighing growth potential against US peers' massive AI investments. Meanwhile, Tencent and Alibaba earnings will be closely watched for signs of how AI agents might drive future growth. In the US, Meta delayed its AI model rollout after performance concerns, while Ukraine plans to release drone footage for AI training despite ethical concerns.
Asian Markets
Hong Kong proposed lowering thresholds for dual-class share listings to attract more tech listings, as PayPay considers a Tokyo dual listing after its $880 million US IPO. Indian power utilities gained on coal demand as gas shortages and harsh summer conditions boost electricity consumption. However, leveraged ETF inflows are raising fears of another Asian stock rout following last week's war-induced selloff.
European Markets
European businesses are lobbying against tech sovereignty measures that could hurt profits and competitiveness. Meanwhile, economists see ECB holding rates through 2027 despite inflation threats, creating a split from market expectations. German industry is facing renewed pressure as energy costs surge for the fourth consecutive year since Russia's Ukraine invasion.
Fixed Income
US Treasury volatility surged to nine-month highs as war risks upended Fed policy expectations and fanned inflation concerns. The volatility spike reflects how investors are scrambling for hedges as traditional strategies break down amid escalating Middle East tensions.
Corporate & M&A
Brookfield is seeking an $800 million loan to back its proposed purchase of air cargo specialist World Freight Co. Carlyle overhauled its European private equity team after poor performance, with the US firm expected to restart fundraising for its flagship European buyout fund. In Australia, Regal Partners suffered a 93% crash in Immutep shares, while Northern Star Resources sank after cutting output guidance.
Emerging Markets
China's consumer spending posted its worst start to a year outside the pandemic, highlighting challenges to Beijing's domestic demand strategy. The renminbi push gains significance even if it never rivals the dollar, as cheaper settlement could reduce US currency holdings. Brazil's Supreme Court barred a US official from visiting imprisoned former president Bolsonaro, while Peru kept rates at 4.25% as inflation pressures mount.
Infrastructure & Transportation
Qantas agreed to pay $74 million to settle a class action over its Covid-era flight credit policies. The electric grid faces massive upgrade needs to meet data center demand, though funding remains unclear. Honda scrapped EV plans while startups forge ahead, highlighting the industry's divide between electric vehicle leaders and laggards.
Alternative Assets
Australia's pension system, now the world's fourth-largest at A$4.5 trillion, is seeking more US private assets ahead of New York meetings. Meanwhile, a Chinese energy-construction giant is spotlighting arcane credit market structures where investors seek to more than double fixed-income returns through technical loopholes.
Real Estate & Consumer
The super-prime property market is pushing past $200 million benchmarks, though analysts debate how much represents genuine demand versus marketing. In a novel experiment, a Bitcoin investor offered Nevis residents $100 monthly if his libertarian city project gains approval, drawing accusations of "public bribes" from critics.
Labor Markets
The Philippines is bracing for labor market pain after joblessness surged to four-year highs due to the Middle East conflict. Meanwhile, New York City's proposed $30 minimum wage is rattling small businesses already facing economic headwinds.