Public Markets 8 Hours

Last updated: September 17, 2026, 6:01 AM ET

European Gas and Energy Markets

European gas prices rose on Tuesday even as crude oil declined, with traders weighing the prospect of lost Saudi supply against stubbornly low European inventories. The divergence underscored how regional storage deficits are keeping a floor under gas benchmarks despite broader weakness in energy complexes. In Asia, Indonesia doubled its bioethanol target for 2028 to 20%, accelerating a push to curb oil imports and reduce the country's exposure to global crude price swings. Copper steadied in London as traders shrugged off hawkish messaging from the Federal Reserve, with the metal holding its ground despite renewed rate-rise expectations.

UK Retail and Equities

Next raised its profit forecast after a stronger-than-expected first half, with the clothing chain — widely viewed as a bellwether for UK retail — reporting robust sales that defied broader consumer caution. In London, the FTSE 100 edged higher alongside a firmer pound as traders positioned ahead of the Bank of England's rate decision. Volvo Car unveiled a major revamp of its lineup, planning seven new models in what the carmaker described as its largest-ever product push.

Fed Policy and Currency Markets

The yen came under renewed pressure as higher US yields bolstered the dollar ahead of the Bank of Japan's policy decision, leaving Tokyo with a narrowing set of options. A separate read on the currency noted the Fed's rate rise jolted the yen and added pressure on the BOJ to tighten monetary policy. Global bond yields retreated on Thursday as the Fed's hike and its vow to fight inflation calmed markets, reversing part of the prior session's sharp move. Attention now turns to Kevin Warsh, who finds his feet as Fed chair, with analysts arguing a clearer reaction function is a fine substitute for forward guidance.

Hong Kong and Asian Property

Hong Kong property stocks fell sharply after the city's de facto central bank followed the Federal Reserve in raising rates, threatening a fragile recovery in the world's least-affordable housing market. The move weighed on developers already contending with weak mainland demand and elevated financing costs. In Malaysia, Air Asia shares plunged as much as 21% to a near four-year low following a report on route absorption talks, wiping out a substantial slice of the carrier's market value in a single session.

India, China and Sovereign Flows

India bought a record amount of US Treasuries in July, helped by large capital inflows that have boosted the country's foreign exchange reserves and its appetite for dollar assets. China expanded its onshore clearing system to more foreign currencies, deepening the yuan's global footprint as Beijing seeks to reduce reliance on dollar-denominated settlement. The EU asked China to voluntarily limit hybrid car exports ahead of trade talks, as cheaper Chinese vehicles continue to flood the European market and pressure domestic manufacturers.

Deals, Financing and Private Credit

Apollo Global Management is in talks with SoftBank about boosting a loan to as much as $9bn to fund the Japanese group's OpenAI bets, in one of the largest private credit packages of the year. Elham Credit Partners hired former BlackRock executive Stephen Allan to lead its Australia private credit push, signaling continued expansion in the region's fast-growing direct-lending market. A Deep Mind offshoot is nearing a $4bn valuation just a month after founding, with researchers leaving the Big Tech group's London lab close to raising $700mn for the new venture.

Technology, AI and Venture Capital

Investors are piling into brain-computer interfaces, with start-ups developing thought-controlled technology drawing roughly $1bn in venture capital in 2026 alone. The surge reflects a broader rewriting of the VC playbook as start-ups pursuing long-shot AI bets attract billions in funding. A Citi survey raised questions about Meta glasses sales, with the bank's data suggesting either the devices are selling extremely well or the survey methodology has issues. Apple's trust premium is being tested in the age of AI, with markets signaling discomfort even before the latest wave of worries about the company's positioning.

Corporate Moves and Cost-Cutting

HSBC axed a $38,000 school fee perk for new Hong Kong bankers, ending a longstanding subsidy used to attract senior staff to the Asian financial hub. Barclays faced a staff backlash over its three-day office mandate, with thousands of employees pushing for exemptions on commutes and one-off circumstances. Ion Platform, the Mergermarket owner, cut 20% of staff as pressure mounts on Andrea Pignataro's technology empire amid scrutiny over its debt load.

Wealth, Retail and Consumer

St James's Place is adapting to the AI wealth shift, with the wealth manager expected to soon focus on growth rather than historic conduct issues. Dash Water co-founder Alex Wright reflected on early mistakes, recalling a contaminated first trial batch and the parental loans that kept the business afloat. Europe's potato shortage wiped out about 3.1mn tonnes of spuds worth up to €620mn after summer heatwaves, squeezing food producers across the continent. Vue cinemas is exploring a London IPO as the chain emerges from what owners called "six years of hell," capitalizing on a blockbuster summer.

Regulation and Geopolitics

Turkey's market regulator filed criminal complaints against dozens of people following a fund meltdown, escalating a probe into one of the country's worst financial scandals in years. The State Department extended a visa ban on Mahmoud Abbas and other Palestinian officials, preventing the leader of two governing Palestinian groups from entering the United States. Nick Candy, the Reform UK treasurer, won mining rights in Nicaragua days after meeting Laureano Ortega, son of the country's nominally socialist dictator.

Asia, Africa and Emerging Markets

Tata Sons' board took up the RBI's IPO mandate alongside a leadership dilemma, weighing whether outgoing Chairman Natarajan Chandrasekaran should be asked to stay on. Ethiopia's securities exchange approved 11 new listings, with one expected to debut next week as the country builds out its capital markets infrastructure. North Korea's Kim Jong-un built his power on exploitation, with the leader's financial and diplomatic leverage resting on the brutal treatment of his own people.

Climate, AI and Sport

Al Gore downplayed AI's climate threats while touting the technology's potential to advance green progress, arguing in favor of deploying AI to accelerate decarbonization. Japan has good reason to welcome driverless taxis, with a structural shortage of taxi drivers giving robotaxis room to grow. Ferrari is targeting ocean-racing records with its Hypersail project, applying technology developed for its cars to build a self-sufficient racing vessel. 11th Hour Racing is pushing sustainability rules in The Ocean Race, introducing gender equality and ocean protection initiatives. Women sailors are challenging maritime gender barriers, though a significant gap remains in the profession. Sailing technologies are finding new uses beyond the marine sector, with the rapid pace of innovation showing the benefits of cross-industry collaboration. Big Law partners are turning to real estate development in the Algarve, exemplified by London lawyer Neel Sachdev's side venture.