- Total M&A value reached $26.28 bn, a 63% QoQ increase and the second‑highest quarterly total since 2013.
- Deal count dropped to 46, about 50% of the December quarter and half of the previous quarter’s total.
- Company acquisitions (30) outnumbered asset purchases (16), with the largest deal a $10 bn BlueScope Steel acquisition.
- Gold and copper remained top targets, with the second‑ and third‑largest deals focused on those commodities.
- Asset‑purchase value rose 221% YoY to $3.35 bn, despite a 12% decline from the prior quarter.
June 10, 2026
▲ 5▼ 4◆ 2– 12
Markets 4
- CFTC released draft rules setting clearer parameters for bets on platforms such as Kalshi
- The agency will not ban specific binary contracts, keeping them permissible under the new framework
- Proposed guidance could shape the development and regulatory oversight of US prediction markets
- Renewable Identification Numbers (RINs) have doubled in price since the start of the year.
- Higher U.S. biofuel blending mandates are the primary driver of the price surge.
- RIN prices are approaching record‑high levels, boosting biofuel production incentives.
- Regulatory authority published May statistics on settlement fails
- Fails in securities settlement rose modestly versus the previous month
- Average duration of fails remained short, indicating limited market disruption
Macro/Economy 3
- Core inflation rate rose 2.9% YoY, matching estimates
- Headline inflation rate rose 4.2% YoY, highest since April 2023
- Market sees CPI as a welcome print, with underlying inflation not hot
- Annual CPI hit 4.2%, highest since April 2023, driven by 23.5% YoY surge in energy prices
- Core CPI rose 2.9% YoY and 0.2% MoM, below expectations, signaling moderating underlying inflation
- Fed expected to hold rates June 17; markets price in potential December hike amid geopolitical oil risks
- New Business Manager visa capital requirement raised from ¥5m to ¥30m (≈$210k), 96% drop in applications
- Over 45% of foreign-owned businesses in Tokyo expect negative impact from policy change
- Grace period until Oct 2028 for existing visa holders, but uncertainty prompts early exits
Central Banks 1
- ECB opposes deregulation framed as modernization, citing risks like Amsterdam Trade Bank collapse in 2022
- Current capital requirements do not constrain lending; ECB prioritizes resilience over further rule increases
- Calls for EU banking union, single market integration, and capital markets union to boost competitiveness
Energy/Oil 2
- U.S. crude futures rose 2.07% to $90.03 per barrel.
- Brent futures gained 1.8% to $93.10 per barrel.
- President Trump warned Iran will be attacked "very hard," heightening war risk.
- Rystad Energy estimates Gulf output loss of 11.8 million bpd could erase 350 million barrels each month if conflict persists.
- War‑risk marine insurance premiums rose to 3.5‑7.5% per voyage, adding about $250,000 to supertanker costs
- Taiwan signed a new 1.2 mtpa LNG contract with Cheniere, extending supply through 2050 alongside spot purchases
- Auxiliary coal‑fired units could cut daily gas consumption by ~20%, reducing the need for 5‑5.5 LNG shipments each month
- U.S. LNG vessel share may grow as Taiwan’s imports rise from 10% in 2025 to 25% by 2029
Geopolitics 4
- US military secretly helped 200 commercial ships and over 100 million barrels of oil through the Strait of Hormuz
- Operation kept oil prices around $90 per barrel instead of surging above $200
- Ship traffic through Hormuz still well below prewar levels, with 20% of global petroleum supplies lost
- Australia and Germany strengthen defense ties, including joint production of Boxer vehicles and cooperation on critical minerals.
- Germany seeks to circumvent Chinese domination of the industry and technologies reliant on these minerals.
- Both countries reaffirm commitment to freedom of navigation and the United Nations Convention on the Law of the Sea (UNCLOS).
- India-Oman CEPA (signed Dec 2025, effective Jun 2026) grants 100% duty-free access on 98.08% of tariff lines
- Oman's trade with India surged 246.4% YoY to $1.5B in Apr 2026 amid Strait of Hormuz disruptions
- Oman's ports (Salalah, Duqm) outside Hormuz Strait provide alternative trade/energy gateway for India
- CEPA targets 99.38% of export value, benefiting Indian MSMEs in pharma, textiles, electronics, and agriculture
- Oman's small market size (5.68M people) may limit direct gains, but re-export routes via Saudi/UAE offer potential
- Six former police officers on trial for detainee Maksudjon Saidov’s death in custody, charged with grave bodily harm and abuse of office
- Tajikistan has convicted only 13 people for torture since 2018 despite 100+ complaints, per Justice Ministry data
- U.N. and HRW cite systemic torture in Tajik detention, including deaths and coerced confessions, amid impunity concerns
Tech/AI 2
- China’s patent filings surged, with Huawei filing more U.S. patents than Apple in 2023
- Chinese firms use IP courts and standards-setting to block competition and dominate markets
- Realtek v. MediaTek case may set precedent for patent assertion entities in U.S.-China tech rivalry
- India Stack 3.0 expands digital public infrastructure beyond payments to include identity and lending services
- Account Aggregator framework introduces consent‑driven data sharing, mirroring GDPR principles
- Unified Lending Interface enables flow‑based lending and business identity verification
- AI is positioned as both a driver of demand for DPI foundations and a growth opportunity
- The model is promoted as a replicable blueprint for global technology democratization
Companies 6
- US Attorney's Office in D.C. subpoenas JPMorgan, Bank of America, and others
- Probe focuses on alleged 'debanking' practices by major banks
- Several banks face investigation over potential discriminatory practices
- BP's third CEO and chairman in under three years spark investor scrutiny of board oversight
- Activist shareholder says company needs to address reasons for leadership turnover
- BP's new CEO seeks to simplify structure by returning to upstream and downstream model
- Schneider Electric and Torngat Metals signed an MoU to explore the Strange Lake rare earth project in Nunavik, Canada.
- The project’s indicated resources total 278.1 Mt at 0.93% TREO (heavy rare earths) with inferred resources of 214.4 Mt at 0.85% TREO.
- The partnership will use Schneider’s electrification and automation expertise to build an integrated mining‑to‑manufacturing value chain for magnets used in EVs, wind turbines and defence.
- Fidelity, the second-largest target-date fund provider, plans a new offering.
- The new product will embed an annuity within a target-date fund for 401(k) accounts.
- The annuity component aims to give investors pension‑like income guarantees.
- Top U.S. utility announced acquisition of Dominion Energy, expanding data‑center exposure
- Deal creates one of the biggest utility consolidations in the U.S. market
- Analysts suggest the merger could improve scale and earnings stability
- COO Michael Rosenthal bought 10,000 MP shares at $54.30 each, filing on June 10
- His total holding is now 136,622 shares, versus CEO James Litinsky's ~11.8 million
- MP stock closed around $53, about half its October peak of $100.25
- Despite sector weakness, MP's price has nearly doubled year‑over‑year
Other 1
- A mass shooting in Johannesburg's Cleveland settlement left 12 dead and 9 injured.
- At least 10 gunmen opened fire at multiple sites; police have not yet made arrests.
- The settlement is known for illegal gold mining ('zama zamas'), with recent weapon seizures targeting the gangs.
- Authorities have deployed soldiers to high‑risk mining areas earlier this year to curb organized crime.
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