Public Markets 8 Hours

Last updated: July 12, 2026, 5:30 PM ET

Merger Challenges and Deal Woes

Attorneys general from several states are preparing to file a lawsuit this week to block the proposed $111 billion merger between Paramount and Warner Bros., posing a significant hurdle to the transaction prepare to file. Meanwhile, Disney's live-action "Moana" remake, grossing approximately $43 million in North America over the weekend, about 30% below expectations and casting doubt on the studio's established formula. FIFA's prediction market partner, ADI Predictstreet, has also, with users reporting issues with a World Cup ticket giveaway. New Zealand, however, is aiming to finalize a deal for its first liquefied natural gas import facility before the November election, betting on cheaper global LNG prices.

Dollar Strength and Bond Market Dynamics

The US dollar is currently experiencing strength, a trend that presents a complex environment for bond traders. While a strong dollar is not always favorable for US bonds, investors are by finding alternative strategies.

Political Developments and Leadership Shifts

The death of Senator Lindsey Graham, though he was not particularly old by Senate standards. South Carolina law indicates his passing triggers a special Republican primary election on August 11, with the governor having the authority to appoint a replacement to finish his term triggers an election. President Trump mourned Graham as a "great politician" and "member of the family". In Ukraine, President Volodymyr Zelensky announced a leadership shuffle, including the resignation of Prime Minister Yuliia Svyrydenko, as the war shifts in Ukraine's favor. Michael Cohen, who testified against Trump, has reportedly re-established contact with the former president. Key Republicans on the Judiciary Committee might push for concessions from Todd Blanche, a nominee for attorney general, though they do not appear to be in outright revolt.

Geopolitical Tensions and Academic Scrutiny

The US has launched new strikes on Iran in the ongoing conflict over the Strait of Hormuz, with Iran stating the waterway will remain closed until further notice. This situation is linked to a previous agreement under President Trump that Iran claimed gave it control of the waterway and global energy supplies, with Iran's military now asserting authority. Separately, an opinion piece suggests that replacing academic judgment with political alignment, as proposed by Trump, is a dangerous approach that undermines discovery. Hedge-fund manager Brad Gerstner is reportedly championing new investment accounts for children.