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Wall Street banks are set to report their biggest IB fees haul in years, retail traders are investing in everything but the S&P 500, Goldman is pitching investors on loans to their own private funds, Italy's oldest dairy company securitized cheese, and Chipotle is set to open in Mexico.
Before we dive in, Polymarket's Combo Cup is officially live, with $50k in bonuses paid out daily! You can combine 2 to 32 markets into a single combo for a chance to win up to $50k from Polymarket if all markets resolve correctly. Check out the available markets!
Datasite surveyed over 1,000 senior bankers to find out how AI is changing the M&A processes, from decisions to workflows. Check out their findings here.
Let's dive in.
Before The Bell
As of 7/13/2026 market close.
Learn more about the Litquidity portfolios and subscribe to the strategies on Autopilot.*
Markets
US stocks dropped yesterday as a new blockade in the Strait of Hormuz sparked a massive chip stocks selloff
Korea's KOSPI index plunged 9%, now down 25% from peak
Oil prices surged
Earnings
Prediction Markets
Yeah it's looking like it's going to be one of those forever wars
Trade event contracts on Polymarket, the world's largest prediction market
Headline Roundup
US restarted a Strait of Hormuz blockade and threatened 20% toll (CNBC)
Dubai is planning a new port to bypass the Strait of Hormuz (FT)
Wall Street banks are set to report their biggest IB fees haul since 2021 (FT)
Investors alarmed as Asian chipmakers take stranglehold on indices (FT)
Retail traders chase shiny objects but refuse to bet on S&P 500 (BBG)
Banks' record bond short sparks quest for answers (BBG)
Europe earnings momentum is taking off in unusual trend (BBG)
London IPO revival faces setback as hopefuls delay (BBG)
China GDP growth is set to slow (RT)
Goldman is pitching investors on loans to their own private funds (BBG)
Senator Warren presses Dimon on if he lobbied UK on Epstein's advice (FT)
Investors sued BlackRock for overcharging on mutual fund fees (RT)
Democrat states sued to block the Paramount-Warner Bros deal (WSJ)
Meta lifts cost of Louisiana data center to $50B (WSJ)
Volkswagen confirms plan to cut 50k more jobs (FT)
Chipotle is expanding in Mexico (BBG)
US appeals court revives lawsuits linking Tylenol to autism (FT)
Regulators seek ways to discourage loans to illegal immigrants (WSJ)
A Message from Datasite
Ever tried getting a thousand dealmakers to agree? A new report from Datasite, in collaboration with FT Longitude, comes close.
Based on a global survey of 1,000 senior dealmakers, The new deal team reveals how AI is already changing M&A decisions, workflows, and competitive advantage. The findings point to a clear shift: 96% of dealmakers are using or exploring AI for sourcing and screening, 62% say human-only decision-making is no longer defensible in complex deals, and 71% believe firms that ignore AI today will struggle to compete within five years.
Still, dealmakers agree that signing a deal should remain a human decision. The result is not a story of AI replacing dealmakers, but of dealmakers redefining where human judgment, accountability, and relationships matter most.
Read the full report: The new deal team: What 1,000 dealmakers reveal about AI-driven M&A.
Deal Flow
M&A / Strategic
Dutch paints firm Akzo Nobel rejected a new $8.4B offer from Nippon Paint to proceed with its $25B merger with Axalta Coating Systems
Blackstone, Apollo, and KKR will acquire a 49% non-controlling interest in five power plants from pipeline giant Williams for a $5.35B
Aussie gold miner Regis Resources won't match a rival $3.9B bid for Vault Minerals made by Genesis Minerals
$2.3B-listed UK Rolex retailer Watches of Switzerland Group is in talks to go private
Regional lender First Hawaiian will buy California-based TriCo Bancshares in a $2B all-stock deal
The renewables unit of India's Grasim Industries will buy Sprng Energy from Shell for $1.8B, including debt
Plumbing supplies distributor Ferguson Enterprises will buy flow-control equipment provider FloWorks from Wynnchurch Capital for $1.6B cash
Aerospace parts maker TransDigm walked away from its $960M takeover of rival Stellant Systems after DOJ threatened to block the deal
Canada's Greenfire Resources agreed to acquire Connacher Oil and Gas Limited for $900M cash
UK PE firm Bridgepoint will acquire a majority stake in Danish defense tech firm UMag Solutions at a $286M valuation
Indian shadow lender Tata Capital will acquire gold loan lender Yogakshemam Loans at a $33M equity value
Chinese solar wafer maker TCL Zhonghuan took a majority stake in smaller rival DAS Solar
VC
UK digital wealth manager Moneybox is planning a secondary share sale at a $1B valuation
Access the complete VC deal flow and data on Fundable
IPOs / Listings / Issuances / Block Trades
Chinese fast fashion giant Shein is seeking to raise $2B-$3B at an over $30B valuation in its Hong Kong IPO
Saylor's Strategy raised $467M in a share sale to lift its cash reserve to $3B
EV maker Rivian raised $1.3B in a share sale
Mylan, part of a global healthcare company Viatris, plans to raise $365M in a share sale of Indian drugmaker Biocon
Minor Food, the Burger King operator of Thailand-listed Minor International, plans to raise $310M in a Singapore IPO
Aequita-backed German military supplier SMAG Mobile Antenna Masts tumbled 42% in its trading debut after raising $128M in a German IPO
Cooking oil manufacturer Agro Processors & Atmospheric Gases is seeking to raise $9M in a Pakistan IPO
Investcorp-backed Saudi digital services provider's NourNet picked banks for a Saudi IPO
India's Quadria Capital-backed Maxivision Super Specialty Eye Hospitals is planning a 2027 IPO
Debt
Connecticut's public Aquarion Water Authority is planning a $2.4B munis sale to pay for the water company it's buying from investor-owned Eversource Energy
Kenya is considering buying back as $500M of eurobonds to ease repayment pressures
Robinhood is looking to sell $400M of ABSs backed by credit card bills
Italy's oldest dairy company Brazzale raised $11.5M by selling cheese-backed securities
Pinewood Group, the UK film studio behind James Bond, is in talks for a bond sale
Bankruptcy / Restructuring / Distressed
PE firm Citation Capital raised $1.2B for its debut fund, the biggest debut PE fund in Texas ever
Regal Healthcare Capital Partners raised $600M for its fourth PE fund
B Capital raised $500M for its third early-stage fund
European VC Acurio Ventures raised $130M for a debut secondaries fund
Crypto Sum Snapshot
Trump invested crypto gains in stocks and bonds
Trump calls on Congress to pass Clarity Act to honor Lindsey Graham
Crypto Sum compiles the most important stories on everything crypto. Read it here.
Exec’s Picks
WSJ published a somewhat contrarian economic perspective on how AI might actually help solve the next labor crisis.
FT published a really insightful deep dive into CEO Jane Fraser's ruthless remake of Citigroup.
Financial Services Recruiting 💼
If you're a junior banker looking for your next career move, check out Litney Partners, a recruiting firm established by Litquidity and Whitney Partners (the oldest purely financial services executive search and consulting firm).
We aim to place strong candidates across private equity, hedge funds, venture capital, growth equity, credit, and investment banking.
We're currently seeking talent for some incredible roles. Head over to Litney Partners to drop your resume / create your profile and we'd love to get in touch!
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*DISCLAIMER: Investment advice provided by Autopilot Advisers, LLC ("Autopilot"), an SEC-registered investment adviser. Past performance does not guarantee future results. Investing carries risks, including loss of principal. As always, be smart out there. Litquidity is compensated to promote AutoPilot. Compensation details available upon request.