Public Markets 8-Hour Briefing
×Last updated: March 13, 2026, 7:31 AM ET
Energy & Commodities
Oil prices held above $100 as the Middle East conflict shows no signs of abating, with Brent crude futures surging 8% on fears of prolonged supply disruptions. The dollar strengthened to a three-month high as investors flocked to safe-haven assets amid escalating tensions, while the euro hit its lowest level since August on concerns about Europe's energy security. Japan announced plans to sell oil from national reserves at pre-conflict prices, joining other nations in attempting to stabilize markets.
Emerging Markets & Asia
Emerging market stocks headed for a second weekly drop as Brent oil's sustained $100+ levels weighed on sentiment, while India's benchmark index neared a technical breach under pressure from surging oil prices. China's credit expansion picked up in February, driven by improved corporate lending despite slower government bond sales. Hong Kong's stock exchange proposed lowering the threshold for dual-class share listings as part of a broader push to revive its IPO market.
Middle East & North Africa
Algeria's government expressed optimism that rising oil prices could provide a lifeline to its economy, similar to the boost from Russia's Ukraine invasion. However, the UAE's real estate bond market faced turmoil as the Iran war hammered prices and threatened to stall a borrowing binge. Meanwhile, Thailand's economic growth forecast was halved due to a triple hit from weaker tourism, softer exports, and higher energy prices.
European Markets
European stocks fell for a second week as the Iran conflict stoked fears of higher inflation and slower growth, while concerns over private credit bubbled beneath the surface. The European natural gas market saw open interest drop to a five-month low as traders struggled with intense price swings driven by Middle East news flow. Germany's chemical industry warned of output cuts as supply chains seized up from the war's ripple effects.
Latin America & Africa
South Africa's stock benchmark fell 10% since its February peak as investors pulled away from overheated markets while Middle East conflict dragged on. The South African rand faced pressure from prolonged higher oil prices, potentially forcing the central bank to consider rate hikes. Nigeria's central bank prepared contingency measures to stabilize the naira if it came under pressure from investors dumping riskier emerging-market assets.
North America
U.S. stock futures wavered while oil prices held above $100, despite U.S. efforts to boost global supplies by allowing countries to purchase sanctioned Russian crude already at sea. The 60-40 portfolio strategy faced renewed scrutiny as stocks and bonds fell in tandem on stagflation risks. Meanwhile, private credit markets showed signs of strain as some investors cashed out of funds, potentially leaving banks more exposed.
Corporate & IPO News
SoftBank-backed Pay Pay kept dual listing on the table after its $880 million New York IPO debut, while Hong Kong plans to name and shame lawyers and auditors for sloppy IPO work amid an influx of Chinese companies seeking to raise funds. India's Shapoorji Pallonji Group planned a $1 billion dollar bond debut to refinance local-currency debt maturing in April.
Infrastructure & Regulation
The UK announced plans to overhaul nuclear power regulation after a review criticized it for being too risk-averse. The government also moved to speed up nuclear projects by weakening wildlife protection, dismaying ecologists. Hong Kong proposed easing listing rules to strengthen the city's appeal as an IPO venue.
Trade & Supply Chains
Thailand's rice exports to the Middle East were halted as the war disrupted shipments to the nation's largest market for the grain, further straining farmers. The Gulf states lost $15 billion in energy revenues since the start of the war, with millions of barrels of crude oil trapped by the Strait of Hormuz shutdown. Germany's chemical firms warned of supply-chain hits from the Middle East war, with risks spreading beyond oil and natural gas.
Technology & Innovation
Berkeley Group Holdings warned of Middle East conflict weighing on sentiment despite reiterating its profit guidance. Meanwhile, Airwallex earmarked $1.1 billion for European expansion, courting clients with global customer bases across the UK, France, Germany, Netherlands, and UAE.