Public Markets 8-Hour Briefing

Last updated: March 13, 2026, 12:32 PM ET

Public Markets

U.S. stocks rose modestly Friday as tepid economic data boosted rate-cut hopes, with the S&P 500 gaining 0.4% and the Nasdaq Composite adding 0.6% despite Middle East tensions. The 10-year Treasury yield fell to 4.12% as consumer price data showed inflation moderating to 2.7% year-over-year, while the dollar strengthened to a three-month high as investors sought safe-haven assets. Retail investors showed signs of fatigue, with JPMorgan noting the first pullback from their typically strong stock-buying support amid inflation concerns and Middle East escalation.

Energy & Commodities

Oil prices hovered near $100 a barrel as OPEC output rose 180,000 barrels per day in February, led by Saudi Arabia's production boost ahead of the Iran conflict. Crude futures dipped slightly from intraday highs as traders weighed the impact of potential supply disruptions against signs of slowing global demand. Natural gas futures fell 2.5% with light weather-driven demand expected over the weekend. Sugar prices headed for a fourth weekly gain amid crude's rally, with traders watching Brazil for potential gasoline price hikes that could divert more cane to ethanol production.

Fixed Income

U.S. investment-grade bond sales approached record levels as companies including Amazon and Airbnb issued debt despite Middle East tensions and rising yields. The vivid seats loan deteriorated further into distressed territory after the ticket reseller reported earnings misses and weak guidance. BNP Paribas held discussions with investors about a potential €2.5 billion significant risk transfer tied to corporate loans, as the war reprices credit risk across European markets.

Geopolitical Impact

India's foreign exchange reserves fell by the most since November as the central bank intervened to support the rupee amid Iran war volatility. The naira faced pressure with Nigeria's central bank preparing contingency measures to stabilize the currency as investors dumped emerging-market assets. South Africa's stock benchmark fell 10% from its February peak as investors pulled away from overheated markets while Middle East conflict dragged on. Hungary's forint became the worst-performing emerging-market currency during the Iran war, with energy price jumps amplifying existing economic risks ahead of next month's elections.

Corporate Developments

Hims & Hers Health shares were on pace for their best week as a new partnership with Novo Nordisk fueled optimism about the company's weight-loss drug future. Charles Schwab forecasted 16% revenue growth for Q1 as retail investors remained engaged despite economic uncertainty and Middle East war. Venture Global greenlit an $8.6 billion LNG expansion in Louisiana, with its third export project as global energy demand remains strong. A startup backed by Andreessen Horowitz plans to revive an abandoned Utah copper mine to test automated mining technology.

Market Structure & Policy

The European Commission moved to suspend duty-free sugar imports for at least a year to stabilize bloc prices as global supply chains face disruption. Brazil's Petrobras raised diesel prices just a day after the government announced federal tax breaks on fuels to shield consumers from surging costs. Turkey and South Korea discussed joint nuclear plant construction as Ankara seeks to diversify energy sources amid Middle East instability. The UK government planned to overhaul nuclear regulation to speed up projects after criticism of being too risk-averse.

Private Markets

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