Public Markets 8-Hour Briefing
×Last updated: March 12, 2026, 4:35 AM ET
Energy & Currency Markets
The dollar is on track for a 2026 high as the Iran war keeps energy prices elevated, with options markets showing the most bullish positioning since 2022. European natural gas followed oil higher as shipping turmoil in the Middle East expands, with markets bracing for months of supply disruptions. The rupee weakened to record lows as India's energy shock extends a slide in equities, with Elara Securities projecting the currency could reach 94-95 per dollar. Hedge funds are ramping up bullish bets on the Australian dollar ahead of next week's central bank decision, while South Korean options appear relatively cheap amid wild stock market swings.
Fixed Income & Sovereign Debt
German 10-year yields climbed to 2023 highs as inflation fears mount, with energy prices surging on the widening fallout from the Iran war. Global bonds have surrendered 2026 gains as elevated oil prices stoke inflation concerns, triggering a selloff across fixed-income markets. Japan's largest life insurers are continuing private credit investments despite growing sector red flags, planning to increase allocations in the fiscal year beginning April. The E6 countries, including Germany and France, are pushing for a single markets watchdog to reinvigorate plans to unify the bloc's capital markets.
Corporate & Industrial
Deutsche Bank raised its bonus pool 6.6% after mixed performance across business units, less than some Wall Street peers. Honda Motor expects charges up to $15.7 billion as it rethinks its electric vehicle strategy amid a North American EV market slowdown. BMW projects flat automaking margins due to tariff costs and intensifying China competition, while Daimler Truck reported a 29% drop in adjusted earnings despite growing order intake. RWE plans to invest heavily in U.S. energy under a $40 billion plan to grow earnings and shareholder returns over five years.
Geopolitical & Supply Chain
Iron ore shipments are being disrupted as the Middle East conflict worsens, with cargoes diverted mid-voyage to East Asia. Chinese oil refiners have begun canceling refined fuel export cargoes, including gasoline and diesel, as Beijing tightens export curbs. Oman evacuated vessels from its key oil terminal as a precautionary measure, while Iraq's oil terminals suspended operations after two tankers were attacked in Iraqi waters. The Strait of Hormuz appears headed for months-long closure, with hopes dimming for quick trade revival without U.S. naval escorts.
Asia-Pacific Markets
South Korea approved a special $350 billion U.S. investment package establishing a fund to invest in American industries as part of a trade deal. Asian banks have paused Gulf expansion goals after the Iran war deflated recent enthusiasm, with private conversations dominated by the conflict's impact. Asia's LNG buyers are preparing for months of disruptions as the world's largest export plant faces prolonged outages. The Middle East conflict's LNG supply disruption could be a larger concern for Asia than oil risks, according to Morgan Stanley.
Financial Services & Legal
A $300 million insider trading probe in Hong Kong has led to arrests of hedge fund and brokerage staff, with authorities alleging brokers accepted bribes for information on share placements. Ex-bankers are suing Deutsche for £600 million over a probe that led to Italian convictions, with the German lender disclosing the claim's size in London's High Court for the first time. John Lewis offered its first annual bonus in four years at 2% after cutting other staff benefits, including its final salary pension.
Technology & Innovation
Atlassian cut 10% of its workforce to adapt to AI threats, becoming the latest major tech company to reduce headcount. Uber, Nissan, and U.K. self-driving startup Wayve have teamed up for robotaxi services in Tokyo, with a pilot program planned for late 2026. Japanese companies are preparing for energy crises after decades of policy shaped by the 1973 oil shock, though questions remain about whether current measures are sufficient. AI systems from Palantir and Anthropic are helping transform U.S. military operations, turning battlefield data into thousands of strikes through an AI-driven "kill chain."
Emerging Markets & Resources
Mali is establishing a special mining task force with judicial powers to oversee gold mining and quarrying sites. Standard Bank Group reported record profit as a growing client base bolstered fee income and market volatility drove trading revenue. Venezuela's acting president appointed a new hydrocarbons minister as the U.S. guides the country's oil recovery under a new energy law following President Trump's ousting of Maduro. Peru's presidential race remains wide open, with none of over 30 candidates holding strong support ahead of next month's vote.
Real Estate & Infrastructure
UI Boustead REIT is set to begin trading Thursday after Singapore's biggest 2026 IPO, raising about S$973.6 million ($764 . The UK government will refer water takeovers to national security screening, while commercial AI systems are being removed from mandatory investment screening to cut red tape. UK water utilities may finally be worth a closer look despite recent price bumps, as valuations remain relatively low. Blackstone arranged a $1.2 billion credit facility for Air Trunk's expansion into Japanese data centers, part of a broader push by private equity into AI infrastructure assets across Asia-Pacific.