Public Markets 8-Hour Briefing
×Market Performance
The S&P 500 steadied after recent selloffs driven by AI disruption fears and tariff concerns. Bitcoin extended its decline, heading for its worst monthly drop since the crypto market collapse of June 2022. Tesla saw EU registrations fall 17% in January, with market share also dipping.
Trade Policy & Tariffs
Trump's new global tariff of 10% took effect after the Supreme Court struck down his original sweeping levies. China has banned exports of dual-use items to a broad list of Japanese entities, escalating their dispute. The Philippines may see inflows of about 3 billion if government bonds are added to JPMorgan's benchmark emerging-market index.
AI Disruption
BlackRock sees European credit spreads staying range-bound this year as attractive yields offset AI worries. The Citrini report's dystopian vision is reinforcing bets that Asia will emerge as a winner of AI disruption. Indian software services stocks deepened their rout after the Citrini report amplified vulnerability concerns.
Currency & Commodities
The yen extended declines after reports on Prime Minister Takaichi's rate hike views. Copper jumped as China's markets reopened and traders cheered potentially lower US tariffs. Standard Chartered announced a $1.5 billion buyback after its Q4 profit missed estimates.
Corporate Developments
MTU Aero Engines expects commercial business to boost 2026 revenue. Bain Capital and Lone Star Funds advanced to a second round of bidding for Mitsubishi Electric's automotive equipment business. BYD logged a nearly threefold increase in European sales last month as EV demand remained strong.