Public Markets 8 Hours

Last updated: July 2, 2026, 2:30 AM ET

Global Markets & Equities

Asian markets saw a mixed performance, with Japanese and South Korean semiconductor stocks tumbling after a US tech rout. Meta Platforms' move to offer AI computing power access raised concerns about overcapacity, impacting chipmakers. Conversely, China Resources New Energy's IPO tripled in value on its debut, becoming Asia's largest this year, driven by strong retail investor demand. India's IPO pipeline has hit a record, with bankers anticipating accelerated activity big guns line up. In Europe, the FTSE 100 was poised for a second day of declines amid broader market jitters.

Fixed Income & Currencies

Foreign traders significantly offloaded Japanese bonds in June, marking the largest divestment in three years, as the debt's lackluster performance lagged global peers. Demand for Japan's 10-year government bonds at auction was weaker than the yearly average, driven by concerns that the Bank of Japan is not tightening monetary policy aggressively enough to curb inflation as JGBs edge lower. The yen, however, edged higher against the dollar amid speculation of potential, unannounced intervention by Japanese authorities to support the currency. Traders are now on alert for the U.S. nonfarm payrolls report, which could influence the yen's trajectory ahead of the key data. Meanwhile, gold extended its gains, supported by central banker commentary that eased rate-hike prospects and positive economic data.

Deals & M&A

The Asia-Pacific region has seen deal volumes surpass $750 billion year-to-date, defying global disruptions. Luxury conglomerate Chanel is expanding its menswear portfolio by acquiring Charvet, the historic Parisian shirtmaker dating back to the 1830s in a strategic move. In the technology sector, Switch Inc. is initiating a private funding round aiming to raise approximately $2 billion led by Andreessen Horowitz. KKR-backed South Korean fashion retailer Musinsa is preparing for an IPO and plans an aggressive expansion of physical stores in China and Japan to challenge rivals.

Corporate Strategy & Regulation

The U.S. Bureau of Prisons will close facilities housing thousands of inmates, citing infrastructure issues, staffing shortages, and budget constraints. In the U.S., the Trump administration has resumed dollar transfers to Iraq after a monthslong suspension aimed at pressuring Baghdad away from Iran in a policy shift. The UK tax authority, HMRC, has achieved success in a series of legal cases concerning limited liability partnerships, challenging corporate structures that have saved City firms millions. The European Union is considering weaker climate rules for data centers, a move that could benefit Big Tech after extensive lobbying as draft rules emerge.

Commodities & Energy

Palm oil prices dipped slightly due to declining crude oil prices and an optimistic production outlook from Malaysia. A significant stockpile of Iranian oil is accumulating at sea as the country struggles to find buyers before a U.S.-imposed deadline expires as buyers stay away. Iron ore futures briefly surpassed $100 a ton, driven by signals from China's state-backed buyer that it might restrict deliveries from Fortescue Ltd. inventories amid supply concerns. OCBC has revised its Brent oil forecasts downwards for 2026, citing a rebound in flows through the Strait of Hormuz to $75 per barrel.

Investment & Finance

The Democratic Republic of Congo is planning its first stock exchange to attract investors to an economy benefiting from soaring mineral demand. UBS is preparing to trial U.S. banking services, including opening accounts for staff by December, as part of its push to attract wealthy American clients and expand its reach. Hamilton Lane Inc. is planning its inaugural yuan-denominated fund, aiming to raise $220 million to target discounted Chinese assets in a new venture. The Bank of England intends to proceed with plans to limit hedge fund leverage in the gilt market, a move criticized for potentially increasing funding costs to enhance market resilience.

Technology & AI

OpenAI is reportedly in early discussions with the Trump administration about a potential 5% stake in the company amid rising political pressure. German software giant SAP is attempting to integrate AI into its operations without widespread layoffs, betting on employees reinventing their roles, though experts remain divided on its feasibility as AI adoption grows. Battery startups are experiencing "crazy" demand for energy storage solutions, driven by the rapid expansion of data centers required for AI training smooth power surges.

Other Markets & Trends

The world is preparing for its most expensive July 4th celebration ever, with tariffs and geopolitical tensions contributing to high food and gasoline prices as the nation marks its anniversary. Argentina has expressed displeasure over the prospect of oil exploration in the Falkland Islands, where the first commercial production is slated for 2028 sparking territorial dispute. Business jet departures in the Middle East have declined by approximately 30% following the Iran conflict, with potential for continued reduction until a peace accord is reached amid regional instability.