Public Markets 8-Hour Briefing
×Market Overview
The US dollar has been at the mercy of oil prices as the war in Iran continues to roil markets. Bitcoin rebounded to $71,000 after a week of volatility, while the US existing-home sales unexpectedly rose in February.
Energy & Commodities
Oil prices plunged nearly 20% before paring losses amid conflicting reports about a US Navy escort in the Strait of Hormuz. The price swings triggered the need for commodity traders to secure billions in new credit lines, with Trafigura securing a $3 billion credit facility. The G-7 asked the IEA to prepare scenarios for potential oil-stockpile releases. Meanwhile, Iraq’s oil production fell to 1.2 million barrels per day. Russia is set for an oil-revenue surge The US raised its 2027 oil output forecast due to rising prices. The US is also easing limits on Russian energy. Nigeria halted gasoline import permits, a move that benefits Dangote. US natural gas futures extended losses due to mild weather. The budget watchdog warns that an energy price surge could derail the UK inflation retreat.
Fixed Income
Treasuries fell as corporate bonds sales resumed after a two-day hiatus. Muni bonds in California get expensive due to high demand. Treasury yields stalled as oil eased.
Equities
Salesforce plans to raise $25 billion in debt for a share buyback. Bitcoin climbed back above $71,000 on Tuesday. Halkbank shares rallied after a US deal. The Ontario Healthcare Pension Plan gained 7.7% last year. Shareholder’s of Transat rejected Peladeau’s attempt for board control.
Private Markets & M&A
General Catalyst discusses raising $10 billion in new funding. Blackstone and Blue Owl take a minority stake in US private equity firm Atlas. First Brands to sell unit making Harley parts for $50 million. Boaz Weinstein is ‘buying pessimism’ with discount bids on private assets. Mira Murati’s Thinking Machines strikes multibillion chip deal with Nvidia.
Corporate Debt
Amazon leads record US corporate borrowing with $40 billion in bond sales.
Economic Indicators & Policy
The US raised its 2027 oil output forecast after prices soared. The Senate is moving toward passing a housing bill. Higher oil prices could put the Fed in a bind as the labor market softens.
Financial Institutions
Citadel and ExodusPoint stung by Iran war turmoil. Creditors of collapsed MFS claim a £1.3bn shortfall.
Geopolitical & Geoeconomic
The war in Iran continues to impact markets, with aluminum, helium, and sulfur prices affected more than oil. China has spent years preparing for the Iran oil crisis. The US is an agent of chaos in world energy markets.
Airline Industry
Rising fuel costs pressure airlines. Wizz Air hit by Iran war after forecasting a €50 million hit.
Legal & Regulatory
Dozens of states weigh continuing Live Nation antitrust case. Smartmatic says it’s a target of vindictive prosecution by Trump. The D.C. Bar begins disciplinary proceedings against Ed Martin.
Other
YouTube adds tool to help public figures report fake videos.