March 29, 2026

‍

Notable market news this past week (29-Mar-26)

Here is the Skeptivest roundup of the latest market headlines for the week

🌍Middle East conflict escalates

1. ‍Iran rejected a US-backed ceasefire, instead pushing for its own terms including reparations, security guarantees, and greater control over the Strait of Hormuz. Military activity has escalated across the region, with continued strikes and increased US involvement. The Strait of Hormuz, a critical maritime chokepoint for global energy flows, has become the key flashpoint, as Trump extends deadline for Iran to open Strait of Hormuz as part of the ceasefire. Meanwhile, Iran has tightened control over the Strait of Hormuz to exert pressure by effectively restricting shipping and allowing only-limited, Iran-approved transits, which has disrupted global shipping and contributed to a surge in oil prices
2. Talks prove fruitless. Top diplomats of Pakistan, Egypt, Saudi Arabia and Turkey met in what officials describe as the most coordinated regional effort yet to push the US and Iran towards negotiations.
3. Iran-backed Houthi rebels in Yemen joined the conflict by striking Israel over the weekend and Iran threatened to expand retaliatory strikes against universitiies and homes of US/Israeli officials
4. Washington has dispatched thousands of Marines to the Middle East. The first two contingents arrived on Friday. The Washington Post also reported that US officials said the Pentagon was preparing for weeks of ground operations in Iran, possibly involving raids by the Special Operations and conventional infantry troops. ‍
5. Trump tells Financial Times his "preference would be to take the oil" and possibly seize its major fuel hub of Kharg Island.

‍

☕️ Quick fire happenings to note

🌏 Global macro

• Global central banks left policy rates unchanged in March: The FOMC left policy rates unchanged at 3.5% - 3.75% (11-1 vote), with the latest dot plot indicating just one 25bps cut by end-2026, keep policy rates around ~3.4%. A recent Reuters poll also showed most economists now expect the Fed to keep interest rates unchanged at least through the next quarter, pushing back expectations of rate cuts amid persistent inflation pressures linked to higher energy prices. In line with this more cautious stance, the BoE, BoJ, and ECB also left their policy rates unchanged, reinforcing a broadly steady global monetary policy backdrop.
• The OECD released its March 2026 interim economic outlook, noting that despite AI growth and easing US tariffs, risks from conflict in the Middle East are threatening to raise inflation and hinder growth, keeping 2026 growth forecasts subdued. It warned that prolonged Middle East conflict could push US inflation towards ~4.2% and G20 inflation to ~4% in 2026, while also slowing global growth. It also cut growth forecasts for economies like Australia, highlighting how even relatively resilient economies are vulnerable to spillovers from global inflationary pressures and energy disruptions.

🏦 Individual stocks/companies

• Coinbase Global Inc (-18.74% past 5D)was amongst the major crypto stocks that slid after a new draft of the “Digital Asset Market Clarity Act” was unveiled. The updated market structure bill tightened regulations around yield-bearing stablecoin products, and bar digital asset providers from paying interest just for holding a stablecoin, but would allow activity-based rewards tied to actions like transacting, staking, providing liquidity or posting collateral. The proposal prohibits incentives that are “economically equivalent” to interest-bearing bank accounts, a direct response to pushback from the banking sector that existing reward programs (like on Coinbase) function like unauthorised savings account. Traditional banks have lobbied heavily for this, fearing that high-yield stablecoin accounts could siphon off deposits from community banks. This new restriction on stablecoin rewards, which is a key user incentive for platforms like Coinbase, poses a major threat to the business models of stablecoin issuers like Circle (USDC) and exchanges like Coinbase, leading to a sharp sell-off in their stocks.
• Pop Mart International Group (-28.70% past 5D) stocks plunged as revenue slightly missed high market expectations, despite record profits driven by the Labubu franchise. The toy company reported very strong FY2025 results, with revenue nearly tripling, rising 185% y/y to ~RMB37 billion and net profit surging over 300%, driven by the global success of its flagship IPs like Labubu and continued overseas expansion. However, despite the strong headline growth, the stock sold off sharply post earnings as investor focus also shifted towards the sustainability of growth and diversification beyond Labubu amidst a conservative 2026 guidance, keeping sentiment cautious despite robust earnings momentum. After the plunge, the company undertook its largest share buyback in a move to bolster confidence.
• Meituan (+0.91% past 5D) saw a surge in share price after China sent regulatory signals to curb price wars in the food delivery and instant retail sector. Authorities indicated a push to reduce “cut-throat competition”, which has been hurting margins across the industry. This policy shift raised expectations that subsidy wars could ease, allowing margins to recover after a period of heavy investment and losses. As a result, investors turned more optimistic on the company’s profitability outlook, driving a sharp rebound in the share price despite still-muted near-term earnings.

🇸🇬 Singapore related

• Singapore sets out concrete plans to develop itself into Asia’s premier gold trading hub, with MAS and the Singapore Bullion Market Association (SBMA) outlining a multi-pronged strategy to strengthen the city-state’s bullion ecosystem. The initiative focuses on broadening gold-related capital market products, establishing trusted clearing and settlement systems, enhancing vaulting and logistics infrastructure, and exploring vaulting services for foreign central banks and sovereign entities – all aimed at attracting regional bullion flows, and deepen Singapore’s role as a key commodities and financial centre amid growing global demand for gold.