US stocks rallied yesterday on a recovery in tech

MSCI China index is down 18% YTD, trailing global stocks by the most since 2001

Dubai's DFMGI index is up 11% QTD on track for its best quarter in a year 

Japanese yen slid to a four-decade low

What we're watching this week:  

Full calendar here

Unlike Germany, USA will not fumble🤝

Trade event contracts on Polymarket, the world's largest prediction market

SCOTUS blocked Trump from firing Fed governor Lisa Cook (WSJ)

Sovereign investors with $29T pivot to energy assets amid dollar fears (RT)

US share sales hit a record $250B in H1 (BBG)

Leverage behind stock market rally is getting more expensive (RT)

Europe's boldest tech startups are reaching for US SPACs again (BBG)

Chinese AI and chip firms are driving an onshore IPO rebound (RT)

Japan IPOs fall to 15-year low with no rebound in sight (FT)

Samsung and SK Hynix will spend $520B on Korea capex (WSJ)

Fossil fuel subsidies are set to hit $1.1T in 2026 (BBG)

Proxy advisors notch third legal win against Republican 'anti-ESG' rules (RT)

SIG lost over $70M on trades against insider traders (BBG)

Supermicro's Taiwan offices were raided in a chip smuggling probe (FT)

Pete Hegseth named Marc Andreessen to the Defense Policy Board (TI)

The average British child gets £10 per week in pocket money (FT)

Martin Marietta Materials agreed to merge with building materials supplier Lhoist North America in a $13.5B cash-and-stock deal, including debt

Building products maker Carlisle made more than one unsolicited offer for roofing maker Owens Corning in what could result in an over $10B cash-and-stock deal

Rocket Lab Corp. agreed to acquire Iridium Communications in an $8B cash-and-stock transaction

Investors submitted first round bids for NFL team Seattle Seahawks, which could fetch an over $6B valuation

French biotech company Ipsen will acquire US-based blood cancer-focused Kartos Therapeutics in a $1.75B deal

German airline Lufthansa is interested in acquiring a minority stake in Portugal's flag carrier TAP as it readies ‌a rival bid to Air France-KLM as part of TAP's 49% $1.7B privatization effort 

UK PE firm Bridgepoint agreed to buy Florida-based Kayne Anderson Real Estate in a $1.4B cash-and-stock deal, excluding debt

Canadian biotech Zymeworks will acquire respiratory-focused Theravance Biopharma for $930M cash

CVC agreed to acquire Italian packaging company Clevertech for $912M

Matador Resources' midstream JV San ​Mateo Midstream will acquire the operating units of Cardinal Midstream Partners for $752M cash

Verizon and UK's BT Group agreed to merge their international businesses into a JV in a deal that includes Verizon making a $625M 'equalization payment'

Swedish care provider Ambea made a recommended public ​offer for peer Humana at a $305M valuation

Italian energy giant Eni and XRG, the investment unit of ADNOC, agreed to buy 32% stakes in a LNG production and export project in Argentina from YPF

Bridge Football Group acquired Grasshopper Club Zurich from Los Angeles Football Club

CVC agreed to buy ingredients business Irca from PE firm Advent

Dutch tech investor Prosus will invest in French AI healthcare platform Alan at a $6.25B valuation

8090, an AI-enabled Software Factory startup, raised a $135M Series A led by Salesforce Ventures

Straiker, the agentic security company, raised a $64M Series A led by Marathon Management Partners, Citi Ventures, and others

Omen AI, a fluid-systems monitoring startup, raised a $31M Series A led by Nava Ventures 

Nebex, the market infrastructure platform for the global space economy, raised a $30M seed round led by GV

Six Robotics, an autonomy software company for unmanned systems, raised a $13.7M seed round led by DTCP 

Proception, a robotics company developing high-dexterity robotic hands and sensor gloves, raised an $11M seed round led by First Round Capital

Pocket, an AI meeting-notetaker hardware and software company, raised $11M from Accel, Y Combinator, and ElevenLabs CEO Mati Staniszewski 

Neos Partners-backed power distribution equipment maker Forgent Power Solutions are seeking to raise potentially $2B in their third stock sale this year

Honeywell Aerospace spun off from Honeywell

Comcast plans to spin off NBCUniversal and Sky into a new company

Immunology-focused biotech Talawar Therapeutics will merge with JATT II in a $285M deal

India's Yes Bank will raise $1.7B in a debt and equity sale

A Morgan Stanley private credit fund sold $350M of investment grade bonds

Nigeria is preparing a eurobond sale

German private bank Berenberg and Brookfield are battling over the future of GoldenPeaks, a bankrupt energy company staring at collapse after borrowing $1.5B for European solar projects

Ethiopia agreed to a deal to restructure a defaulted $1B international bond 

Siris Capital-backed technology solutions provider TPx Communications filed for Chapter 11 with plans to restructure and emerge unless it finds a buyer 

BBVA and Toscafund-backed UK digital bank Atom Bank is on the brink after to garner takeover bids at an $800M valuation

Dish DBS, the satellite pay-TV provider of EchoStar, is set to file for Chapter 11 bankruptcy 

French PE firm Ardian plans to invest over $3.4B to build data centers in the Nordics through portfolio company Verne

Ares launched its second Asia private credit fund seeking over $1.7B

Ibex Investors filed to raise a second secondaries fund 

Strategy's turnaround plan includes Bitcoin sales, stock buybacks, and more reserves

UK regulator waters down landmark crypto rules

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WSJ published a profile on Troy Rohrbaugh, the options trader who emerged as a surprise front-runner to succeed Jamie Dimon as JPMorgan's CEO.

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