Public Markets 8 Hours

Last updated: May 18, 2026, 8:37 AM ET

Energy & Inflation

Oil futures climbed 1.2% to near $72/barrel as President Trump renewed warnings to Iran, while a tenuous cease-fire did little to ease supply fears. The surge pushed global bond yields higher, with 30-year UK gilts hitting 1998 highs above 5.2% and the 10-year Bund reaching a 15-year peak at 2.85%. Gold fell sharply as inflation concerns trumped safe-haven demand, while European natural gas broke above €50/MWh on prolonged Middle East tensions. The IEA chief warned commercial oil inventories are shrinking rapidly, amplifying fears of a sustained price shock.

M&A & Corporate Moves

Next Era Energy agreed to buy Dominion Energy for $67 billion in stock, creating a utility colossus spanning Florida to the data center corridor. Separately, Anglo American finalized a $3.88 billion sale of its Australian coking coal mines to Dhilmar, completing its exit from steelmaking coal. In private equity, Poly Peptide shortlisted EQT and IDG for a potential takeover, while Blackstone arranged a $1.2 billion credit facility for Air Trunk’s Japan data center expansion. Activist investor Corvex urged Whitbread to sell after its shares slid 25% in a year.

Fixed Income & Currencies

The global bond selloff intensified as investors dumped government debt from the US to the UK, propelling borrowing costs to multi-year highs. Japanese 10-year yields rose above the Topix dividend yield for the first time since 2007, signaling a potential rotation into bonds. The euro faced pressure from diverging yield trajectories, while the pound stalled amid leadership race uncertainty. In Thailand, a court challenge cast doubt on a $12 billion crisis loan plan, and Switzerland’s economy grew faster than expected despite the energy spike.

Geopolitics & Sectoral Strains

The US remained uncertain about its stance on Russian oil sanctions after a waiver expired, even as India weathered supply disruption thanks to alternative barrels. Qatar’s Al-Khayyat family bid for African infrastructure, targeting Ethiopian airports and Congo roads. In Australia, a mouse plague prompted an emergency permit for potent bait, compounding farmer woes from the Iran war. Meanwhile, the US declared a global health emergency over an Ebola outbreak affecting a small number of citizens.

Tech, AI & Labor

College students interrupted commencements to protest AI’s impact, echoing concerns from tech workers who also fear AI but are starting to push for regulation. Baidu’s profit slid again amid slow AI monetization, while Kioxia saw price targets double on a stronger chip outlook. In aviation, Ryanair suspended guidance after a surge in jet fuel prices, and Lufthansa spoke with investors ahead of a potential euro bond sale. Ford plans a Fiesta successor to revive European sales lost to Chinese rivals.

Policy & Market Structure

G7 finance ministers look to contain the Iran economic fallout, with oil-fueled inflation threatening world growth. The EU markets watchdog shortlisted six officials for its top job as it prepares for beefed-up powers. In the US, senators work to ban gambling ads targeting minors amid a betting boom. The TSA experimented with off-site screening to ease airport congestion, while a crack in polling showed Trump’s approval at a new low of 37%, clouding GOP midterm prospects.