Editorial briefings
Four scheduled briefings per week — pre-Europe and pre-US session opens on weekdays, plus weekend catch-up and weekly wrap. Curated from public filings and verified news sources.
Good morning. Today's Weekly Wrap brief is ready for subscribers.
Brent crude surges toward $110 as Hormuz attacks intensify and AI stocks rout deepens
A turbulent week dominated by Middle East energy supply disruptions, a tech sector selloff, and hotter-than-expected US inflation data reigniting rate hike concerns.
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Bessent reaffirms 3% GDP growth target; Kalshi traders price lower
U.S. Treasury Secretary Scott Bessent stated on 24 June 2026 that GDP growth can return to 3% before the end of the year, reaffirming his "3-3-3" plan. The plan targets 3% GDP growth, a 3% deficit-to-GDP ratio, and a 3 million barrels per d…
AI-backed PACs spend up to $29m in NY-12 primary won by Lasher
Micah Lasher won the Democratic nomination for New York's 12th Congressional District on 24 June 2026, defeating state Assemblyman Alex Bores in a primary that Bloomberg characterised as a '$29 million proxy battle over who will control the…
Morgan Stanley $7bn private credit fund gates redemptions at 5% in Q2 2026
Morgan Stanley's $7 billion North Haven private credit fund implemented a redemption gate in Q2 2026, capping payouts at 5% of shares and fulfilling less than half of withdrawal requests that totalled 11.6% of fund assets. The gate means a …
Deutsche Bahn halts all Germany trains in GSM-R outage
Deutsche Bahn suspended all train services across Germany late on Tuesday after a nationwide failure of its GSM-R digital railway communication system forced trains to be held at stations. The state-owned operator said the outage affected t…
Cboe relaunches S&P 500 binary options contracts after decade-long absence
Cboe Global Markets has relaunched binary options contracts on the S&P 500 index, returning to a product category the exchange had not offered for more than a decade, according to Bloomberg Markets. The relaunch positions Cboe to compete di…
European heatwave drives UK power import costs to six times normal rate
A heatwave across Europe drove electricity prices to record premiums as of 23 June 2026, with Great Britain importing power at six times normal rates, according to Guardian Business. The price surge reflects a convergence of sharply elevate…
Trump denies Hormuz tolls imposed; shipping traffic through strait rose modestly
President Trump posted on Truth Social on 24 June 2026 that Iran has confirmed no tolls, insurance surcharges, or transit fees are being imposed on vessels passing through the Strait of Hormuz, and denied that any U.S. funds have been relea…
Crude falls further as Goldman cuts Q4 forecast to $80 and Iran talks resume next week
A busy European session dominated by oil price weakness on US-Iran de-escalation, a sharp drop in Rheinmetall shares, and stabilising equity futures ahead of Micron earnings.
Kospi rebounds after 10% rout; UK PM Starmer resigns, Burnham tipped as successor
A busy overnight session dominated by tech selloff aftershocks, a dramatic UK political development, and acute oil freight disruption in the Persian Gulf.
Castlelake bids 625p per share for easyJet after three rejected proposals
US investment firm Castlelake has made three successive takeover proposals for budget airline easyJet, all of which the easyJet board rejected. The most recent and publicly disclosed offer stands at 625p per share, valuing the airline at ap…
Warsh holds rates at first Fed meeting; traders lift October hike bets
Kevin Warsh, in his first Federal Reserve policy decision as chair, maintained interest rates unchanged at the June 2026 meeting, according to Bloomberg Markets. The decision marked Warsh's initial major test following his appointment to le…
Kospi falls 10%; Nasdaq 100 loses $1.3 trillion over two days
A broad sell-off in major technology stocks drove sharp losses across global equity markets on 23 June 2026, with South Korea's Kospi index falling 10% from its recent record high in its worst single session since March 2020. The decline sp…