📊 Weekly Summary
Hi there,
Here's your weekly snapshot of global markets and finance:
The Fed held rates at 3.5%-3.75% in Warsh’s first meeting, while the BOJ raised rates to 1%, its highest level since 1995, adding pressure to global bond markets and carry trades. Markets also split on the Fed’s next move, with options traders pricing rising odds of another hike as policymakers remain divided.
Meanwhile, Goldman reached $1T in H1 M&A volume, Hong Kong IPOs rebounded, and the mega IPO rush helped revive SPAC listings. Credit conditions were less even, with private credit defaults matching 2023 highs and lenders becoming more cautious on software buyouts due to AI disruption.
Let's dive in.
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📈 Recent Finance News
Fed held rates at 3.5%-3.75% in Warsh's debut meeting: Markets are assessing how the new Fed leadership will shape the rate path (CNBC)
BOJ hiked rates to 1%, highest since 1995: Japan’s policy shift adds pressure to global bond markets and carry trades (CNBC)
Goldman hit $1T in H1 M&A volume, the fastest any bank ever reached the mark: Driven by the SpaceX IPO and the $66.8B Dominion-NextEra deal (FM)
Private credit defaults hit a 2023-matching high: KBRA's Direct Lending Index hit 2.3% of issuers, with $7.6B in defaulted loans forecast for 2026 (PEW)
Green economy market cap hit a record $10T: Climate-focused company revenues reached $5.5T last year, the fastest growth since 2022 (LSEG)
Mega-IPO frenzy revives SPACs: 107 SPACs listed in 2026, as smaller firms seek a "side entrance" around SpaceX and OpenAI (ZWY)
Hong Kong IPOs rebounded with $4.6B in June listings: The city’s equity capital markets are recovering as investor demand returns (AAS)
PE firms want software deals but lenders won't fund them: AI disruption is making debt providers more cautious on software buyouts (YF)
EU antitrust chief urges member states to back cross-border bank mergers: UniCredit-Commerzbank as the key test case for banking integration (YF)
Central banks repatriate gold as insecurity rises: More reserve banks are increasing domestic bullion holdings or diversifying overseas storage (CNBC)
Some Asia hedge funds are up over 100% YTD: WT Asset Management's China Focus fund returned 103% on AI hardware and semiconductor positioning (HW)
Firms rushed to bond markets on US-Iran deal optimism: Aimed to raise over $40B as spreads tightened and ideal borrowing conditions (Briefs)
Options traders split on Fed rate path: The dot plot showed a 9-8-1 split, with markets pricing a 60.7% chance of an October hike by day's end (SWB)
👔 A practical toolkit for elite IB and PE professionals:
🔍 Newly Released Reports
Integrated Financial Markets for Growth & Resilience in Europe (IMF)
Economic Impact of Private Equity & Venture Capital in Italy (PwC)
Beyond AI: How Tech is Transforming Commodity Trading (BCG)
Portfolio Diversification with Alternative Investments (UBS)
How PE Firms Build Origination Advantages (KPMG)
Applying Agentic AI in the Finance Function (BCG)
Where It’s Hardest to Do Business in 2026 (TMF)
Invesco Mid-Year Investment Outlook (Invesco)
Private Infrastructure Debt Primer (Macquarie)
Opportunity Seeking amid Complacency (CITI)
Competition in Digital Financial Services (JBS)
Investing in the Green Economy 2026 (LSEG)
U.S. Real Estate Strategic Outlook (DWS)
Energy Transition Index 2026 (WEF)
Wells Fargo Mid-Year Outlook (WF)
The go-to resources trusted by top finance professionals:
🤝 M&A Activity
SpaceX agreed to acquire AI coding startup Cursor (CNBC)
Deal Value: $60B
Fox Corp. set to buy streaming platform Roku (PRN)
Deal Value: $22B
Qualcomm in talks to acquire AI chip startup Tenstorrent (SW)
Potential Deal Value: $8B-$10B
Saudi Aramco considering stake sale in sulphur business (OP)
Potential Deal Value: $7B
Salesforce to acquire AI customer service platform Fin (TC)
Deal Value: $3.6B
Nuvei agreed to buy cross-border payments firm Payoneer (PRN)
Deal Value: $2.75B
Olin agreed to acquire Huntsman in an all-stock merger (GT)
Deal Value: $2.4B
Keyera bought remaining 50% stake in KAPS natural gas pipeline (YF)
Deal Value: $860M
Jazz Pharmaceuticals signed collaboration with Canada's AbCellera (PRN)
Deal Value: $848M
Norwegian Air agreed to acquire Nordic Leisure Travel Group (GBF)
Deal Value: $843M
American Express sealed to acquire restaurant booking platform TheFork (YF)
Deal Value: $700M
Lone Star Funds frontrunner to buy Continental's industrial unit (PEW)
Deal Value: Undisclosed
Ripple took over a stake in African fintech Flutterwave (CG)
Deal Value: Undisclosed
That wraps up this week’s insights. More coming your way next week.
PE Bro
P.S. What caught your eye most in this week’s update? Hit reply and tell me.
