Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 12:30 AM ET
Energy Markets & Geopolitics
Oil prices edged lower in Asian trade as a technical correction followed Thursday's 10% surge, while gold edged higher amid ongoing Middle East tensions. The Treasury volatility gauge surged to a nine-month high as Iran war fears fanned inflation concerns and upended traders' Fed policy expectations. The UAE cut crude shipments to onshore partners by about a fifth for this month, though flows will still go to Fujairah port outside the Strait of Hormuz. Meanwhile, Trump lifted Russian oil sanctions to boost energy flows amid the Iran conflict, with Treasury Secretary Bessent acknowledging the "unfortunate" benefit to Moscow but maintaining it was a short-term measure.
Asian Markets & AI
A surge in leveraged ETF inflows and elevated margin lending is reviving fears of a fresh Asian stock rout following last week's war-induced selloff. The hype around China's OpenClaw AI software has heightened interest in Tencent and Alibaba earnings, with investors betting the agent could drive growth and innovation. A top-performing emerging markets fund is increasing exposure to Chinese AI hyperscalers, arguing they offer better value than US tech giants pouring vast sums into AI infrastructure. Short sellers betting against Xiaomi reaped $1.8 billion as surging memory prices and weakening EV sales clouded the company's earnings outlook.
Latin American Finance
Peru held its key rate at 4.25% as inflation pressures mounted, marking the first time in over a year that price growth accelerated above the midpoint of the target range. Brazil's Supreme Court barred a US official from visiting Bolsonaro, who is serving a 27-year prison sentence, in a move that could complicate Washington's relations with the country's right-wing opposition. The Philippines sought to review its 30-year-old oil law as the government aims to better control fuel prices that have spiked due to the Iran war, while also bracing for labor market pain after joblessness surged to a nearly four-year high.
Infrastructure & Industrial
A Chinese energy-construction giant is spotlighting credit market technicalities, where investors seek to potentially more than double their fixed-income returns through arcane structures. Coal India shares rose to 16-month highs for the third straight day amid a gas shortage and harsh summer, while iron ore headed for its biggest weekly gain in a year after China's state-backed buyer moved to expand restrictions on BHP Group products. The first train service to North Korea in six years departed Beijing Station, though it lacked passengers on its maiden voyage to Pyongyang.
Australian Markets
Australian gold miner Northern Star plunged 6% after cutting output guidance due to processing mill problems, marking its worst decline in six years. Sydney hedge fund Regal Partners was hit by a 93% crash in Australian biotech stock Immutep, which wiped out most of its A$582 million market value. One of Australia's biggest pension funds, Rest Super, is hunting US private assets, underscoring strong appetite from the country's fast-growing A$4.5 trillion retirement savings system. New Zealand's economic recovery likely lost momentum in late 2025, highlighting its fragile nature even before Middle East conflict impacts.
US Corporate & Regulatory
The Fed plans to loosen capital requirements for big US banks, a move Wall Street cheered as it would water down protections designed to avoid a repeat of the 2008 financial crisis. Digital media company BuzzFeed issued a going concern warning, lacking liquidity for the coming year and burdened by legacy commitments. Homebuilder Lennar's first-quarter sales fell 13% as a tough housing market persisted, resulting in lower average home sale prices. Cosmetics retailer Ulta Beauty expects growth to slow this fiscal year, forecasting 6-7% sales growth compared to 9.7% the prior year as consumers focus on value.
Aviation & Transportation
Australian carrier Qantas agreed to pay $74 million to settle a class action over its decision not to offer immediate cash refunds for Covid-era flight cancellations. Brookfield is seeking an $800 million loan to back its proposed purchase of air cargo specialist World Freight Co., adding to the private equity push into logistics assets. The electric grid needs massive upgrades to meet data center demand, with utilities set to spend tens of billions on high-voltage lines, though no one knows who will pay for the infrastructure.