Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 7:30 PM ET
Energy Markets Turmoil
Brent crude closed above $100 for the second straight session, ending at the highest level in more than three years as Middle East conflict disrupted global energy flows. Total Energies halted production across Qatar, Iraq, and UAE offshore assets, representing roughly 15% of its total output, while a Thai refiner secured rare North Sea Forties cargo from Trafigura as Asian processors scramble for alternatives to Persian Gulf supplies. Hedge funds turned most bullish on Brent oil at the outset of one of the crude market's most volatile weeks, with market stress building at the fastest pace since last year's tariff shock. The rapid surge in oil prices is jolting quant strategies, with a $134 billion complex of systematic trades facing unprecedented volatility.
Geopolitical Impact
The U.S. stepped up strikes on Iran to unprecedented levels as both sides threatened escalation, with 2,500 Marines heading to the Middle East to bolster the war effort. Defense Secretary Pete Hegseth vowed to block Iran's attempts to shut down the Strait of Hormuz, while the U.S. allowed Venezuela to sell fertilizers to American companies, loosening sanctions just as the Iran war tightens global supplies of critical crop nutrients. The conflict is rippling through supply chains, snarling trade far from the Middle East and prompting Latin American leftist leaders to call for ceasefire.
Corporate & Financial Markets
The London Stock Exchange Group plans to sell up to $3 billion of high-grade U.S. corporate bonds as early as next week, testing investor appetite amid geopolitical uncertainty. Meanwhile, Blue Owl Capital urged rejection of a share purchase offer led by Boaz Weinstein's Saba Capital, calling the price too low. TD Securities believes corporate bonds are now cheap enough to consider buying, while Oaktree's Danielle Poli says bigger price moves in credit are coming but the moment for distressed debt buying hasn't arrived yet. Wall Street is pitching bond alternatives as traditional hedges disappoint, with buffer ETFs gaining traction among investors frustrated with conventional fixed-income strategies.
Technology & Innovation
Nvidia prepares to launch AI inference chip to counter rising challengers, with CEO Jensen Huang set to unveil new products at next week's GTC event as spending shifts from training to running AI models. Elon Musk pushed out more xAI founders as the AI coding effort falters, sending Tesla and SpaceX managers to review work at the struggling startup. SpaceX investor Baillie Gifford hails pre-IPO takeover of xAI, positioning the combined business for growth ahead of potential public offering. Meanwhile, retail oil traders sparked ETF boom amid institutional slump, with Anthony Sandford jumping back into energy when U.S. warplanes first appeared over Tehran in late February.
Housing & Policy
President Trump signed executive orders targeting housing affordability as part of a broad effort to reach voters frustrated with homeownership costs. The EPA moved to weaken limits on ethylene oxide, a gas crucial for sterilizing medical devices but linked to several types of cancer. New guidelines advise earlier cholesterol testing, with eleven medical organizations saying changes to preventive cardiac care could markedly reduce heart attacks and strokes. The Trump administration set to receive $10 billion fee for brokering a TikTok deal, with investors agreeing to give the government several multibillion-dollar payments.
Market Infrastructure
Companies House suspended online filing after a glitch put personal data at risk, with a bug on the UK's official corporate register allowing potential fraudsters to change personal details and upload accounts. The FAA expected ground stops at Washington and Baltimore airports to last until at least 7 p.m. after a chemical smell at the control center affected air traffic controllers, with similar disruptions also impacting the airport serving Richmond, Virginia.