Last updated: September 29, 2026, 2:05 PM ET
Public Markets
US equities fluctuated on Tuesday as traders awaited key economic data, with the S&P 500 and Nasdaq drifting near the flatline. The 30-year Treasury yield climbed to its highest level since 2002, extending a six-day rout as inflation and surging oil prices weighed on the long-dated bond market. The dollar hit a two-month high against a basket of currencies on bets the Federal Reserve will need to keep raising rates.
Fixed Income
The US 30-year yield breached levels not seen in two decades, while European government bond yields also retreated from recent highs. A bond-buying camp is emerging as yields surge past 5%, with analysts arguing the Fed has made it clear it will stamp out inflation. Municipal bonds are on track for their worst monthly loss since 1987, driven by inflation and Iran-related fears. Bulgaria sold €2.25 billion in euro-denominated bonds in three tranches to plug its budget deficit.
Energy & Commodities
Crude oil prices fell as Saudi Arabia resumed Red Sea oil exports via its East-West pipeline, while Middle Eastern oil exports rose to the highest level since the Iran war began. Natural gas futures dropped on a milder U.S. temperature outlook. Gold edged higher but Julius Baer said short-term gains are likely limited by the Fed being in “inflation-fighting mode.” Russia’s oil export windfall is being eroded by a ban on diesel shipments, even as crude shipments rise. The average UK diesel price is set to reach £2 a litre within days due to US sanctions.
Dealmaking & Corporate Finance
Piper Sandler is in talks to acquire Perella Weinberg, joining two Wall Street advisory firms. Banks have drawn $11.5 billion of investor orders for a Paramount loan deal, while Paramount Skydance launched a $3.2 billion bond sale to finance its Warner Bros. deal. Bain Capital invested in construction tech firm Kahua at a $1 billion valuation. H Lundbeck has expressed interest in acquiring Xeris Biopharma. Apollo and Oaktree are suing Patrick Drahi over a “brazen” plan to restructure US telco Optimum Communications. Susquehanna and Citadel Securities said they would drop a lawsuit and settle with alleged insider traders.
Tech & AI
Anthropic filed for an IPO, warning of “existential risks” from AI. The company’s filing also revealed it consulted religious scholars to instill morality into its AI models. President Trump is set to meet tech chiefs including Dario Amodei, Elon Musk, and Mark Zuckerberg over AI safety. College students are flexing their power in the AI investment frenzy via Dorm Room Fund. Nvidia’s $150 billion buyback created phantom value, according to a WSJ analysis. Smart ring maker Oura delayed its IPO amid market uncertainty, despite strong demand. HANetf launched the first euro-hedged Bitcoin fund.
Earnings & Corporate Results
Carnival logged higher profit and revenue on accelerating demand, posting net income of $1.92 billion. CarMax posted higher profit as its turnaround took shape, with shares climbing on the progress. Stellantis plans temporary halts at several plants in France.
Central Banks & Policy
Federal Reserve Governor Michael Barr said more rate hikes are likely needed as growth picks up. Turkey’s President Recep Tayyip Erdogan said the country created a board to oversee fund liquidation. Hungary’s central bank deputy governor Zoltan Kurali backed a path to euro accession. The Trump administration is preparing to ask tax filers if they are U.S. citizens. Homeland Security money financed pro-Trump television ads, which the White House calls public-service spots.
Regulation & Legal
Spain seeks to ban “vulture funds” from the housing market after public outrage over an eviction. A Senate investigation found rampant use of Tether’s stablecoin by the Iranian regime. ICE plans 5,000 new hires to help with its deportation drive. A body camera captured an incident between an ICE agent and a driver in Austin. Cornell University’s rape investigation has been reopened by prosecutors.
Infrastructure & Energy
A planned steel mill in Iowa reveals Trump’s midterm strategy, while Mesabi Metallics plans to build a $15 billion steel mill there. Dangote’s $16 billion oil refinery was blocked by a Kenyan court. Trump’s offer for more solar comes with a catch that may limit its impact on clean power. AT&T signed a $3 billion deal with Corning for fiber. Nike is overhauling its China strategy to halt discounting.
Transport & Travel
Alaska Air is upgrading lounges and cabins in a battle for high-paying travelers. Barclays watered down its return-to-office mandate after staff backlash. M&S struck a beauty deal with LVMH’s Sephora for 100 store concessions. Grant Thornton is offering £40,000 graduate salaries and a “golden hello” to compete with the Big Four.
Markets Structure
Canada’s TMX is open to extending hours and adding prediction markets. Morningstar is steering clear of low-growth South Africa, favoring Brazil and Mexico. A UK-backed tungsten mine is supplying the US defense stockpile. Tankers are loading oil again from a vital Saudi pipeline after it was damaged.
Geopolitics & Security
Secretary of State Marco Rubio said the incident at UK air base RAF Fairford “clearly involved” a foreign actor. Rural English villages around RAF Fairford are at the center of a possible terrorist plot. An Israeli settler attack in the West Bank blocked a Palestinian family from returning home. What life looks like in the “fortress cities” Russia is trying to break in Ukraine.
Politics & Society
Black voting groups are preparing for disinformation campaigns in the midterms. Wealth is playing a role in the Ohio governor’s race. Mayor Zohran Mamdani announced a plan to fight antisemitism without discussing Israel. Sunkist Fruit Gems are getting a second chance after being discontinued. Dennis Haskins, Mr. Belding on “Saved by the Bell,” died at.