Public Markets 8-Hour Briefing
×Market Overview
The S&P 500 ended lower after volatile trading. US mortgage rates hit their lowest level since 2022, spurring refinancing. Circle Internet Group's stock surged after beating Q4 estimates.
Deals & Corporate
Allianz plans to buy back as much as €2.5 billion in shares. EG Group is selling French forecourts to Zuber Issa. Coller Capital bought $477 million of assets from New Mountain Finance. Nordex surged on an earnings beat and potential US expansion. Munich Re plans to return €5.3 billion to investors. T.J. Maxx owner TJX Cos. reported higher profit.
AI & Tech
AI Disruption Fears are prompting scrutiny in private markets. Tefal will cut 7% of jobs, citing AI gains. Citigroup has assembled a banking team focused on AI infrastructure. Samsung's new Galaxy S26 smartphone will go big on AI. Nvidia won't deliver much upside, according to Seaport's Goldberg.
Macro & Policy
Government bonds' shrinking appeal has cost, the New York Fed says. Global debt hit a record $348tn, fueled by spending. Saudi Arabia and Iran are driving up oil exports. Colombia eyes $6.7 billion in pension assets. US Crude Oil stockpiles posted a large weekly build. Romania is selling euro and dollar bonds. Thailand’s rice exports are set to drop. South Africa announced tax relief. Mexico has cards to play with Trump.
Banking & Finance
JPMorgan, Bof A favor Venezuela bonds. Bank of Montreal profit rose. National Bank hit a record high.
Commodities & Energy
OPEC+ delegates expect modest supply hikes. The North Sea oil market signals weakness.
Other Notable News
Bitcoin selloff is the worst since the FTX collapse. CME halts trading on metals and natural gas futures. Revolut wins FCA backing for stablecoin testing. John Lewis ditches a plan to build 10,000 homes. Supreme Court ruled against a private prison firm. Kalshi fines on prediction wagers. The Bank of England does not need to ‘follow the Fed’. Nvidia rises premarket.