Notable market news this past week (21-Jun-26)
Here is the Skeptivest roundup of the latest market headlines for the week
🌍 Geopolitical risks in the Middle East eases as US-Iran deal progresses
The United States and Iran made significant progress towards a potential peace agreement last week, following high-level talks in Switzerland. Optimism grew after Iran agreed to readmit UN nuclear inspectors under a proposed 60-day roadmap to a formal treaty, while a newly released 14-point Memorandum of Understanding (MOU) provided a framework for further negotiations.
Yet, key sticking points remain unresolved. Iran continues to press for an Israeli military withdrawal from southern Lebanon, while disagreements persist over the reopening of the Strait of Hormuz and the sequencing of sanctions relief. Tensions also briefly flared when the Iranian delegation temporarily walked out of the talks following public remarks from Trump, although mediators were able to bring both parties back to the negotiating table.
Despite these challenges, markets were focused on the reduced risk of a broader regional conflict and the prospect of uninterrupted energy supplies. Oil prices fell sharply as investors unwound the geopolitical risk premium that had built up in recent weeks, pushing Brent crude below US$80 per barrel and to a low of US$78.20 during the week. The decline in energy prices helped alleviate inflation concerns and supported risk assets, with US equities rallying on expectations that lower oil prices would be positive for both growth and inflation.
☕️ Quick fire happenings to note
🌏 Global macro
- US Federal Reserve held rates steady but remains hawkish: As widely expected, the Fed left interest rates unchanged at 3.50%-3.75% at its June meeting, the first under the new Fed Chair Kevin Warsh. While the decision itself was largely uneventful, markets focused on the Fed’s relatively hawkish tone, with policymakers continuing to highlight persistent inflation risks despite moderating energy prices. The meeting reinforced expectations that rates could remain higher for longer, providing support to the USD and keeping upward pressure on Treasury yields.
- US retail sales surprised to the upside in May, rising 0.9% versus expectations of a 0.5% increase, marking the fourth consecutive month of strong gains. The data highlighted resilient consumer spending and reinforced the soft-landing narrative as US economic momentum remained broadly resilient, with retail sales exceeding expectations and labour market conditions remaining firm.
🏦 Individual stocks/companies
- Space Exploration Technologies Corp (-3.52% past 5D) shares surged strongly on its debut, rising as much as ~20% on the first day of trading and briefly pushing the company’s valuation above US$2 trillion. The IPO was priced atUS$135 per share and raised a record US$75 billion, making it the largest listing in history. Since then, the stock has entered a phase of post-IPO consolidation, drifting lower in subsequent sessions amid profit-taking, concerns over stretched valuations, and heavy capital expenditure needs. While still trading meaningfully above its IPO price, the early price action reflects a typical listing pattern of strong initial demand followed by volatility as markets digest a highly anticipated and heavily oversubscribed deal.
- Knowledge Atlas Technology JSC Ltd (+86.10% past 5D) shares saw an aggressive upward rally, with its stock surging from HK$1,261 past multiple moving averages to hit a historic peak of HK$1,994. The upswing was primarily fueled by a standout6.4-fold quarterly surge in Annual Recurring Revenue (ARR), which skyrocketed to US$250 million, prompting upward revisions from analysts and reinforcing confidence in its rapid commercialisation. Additional tailwinds came from surging global enterprise token usage and strong demand for advanced AI models, which supported broader inflows into leading AI developers. The stock’s breakout above key moving averages triggered further technical buying, with hedge funds and institutional investors rotating aggressively into the name amid high-volume momentum flows.
- Tokyo Electric Power Company Holdings Inc (-9.87% past 5D) shares declined, driven by heightened market concerns over leaked details of a proposed ¥1 trillion private capital consortium, alongside ongoing operational setbacks. Sentiment weakened after reports indicated that five consortiums, including SoftBank, KKR, and BlackRock, have been shortlisted, with some proposals reportedly exploring full privatization, raising fears of significant equity dilution for existing shareholders. Investor anxiety was further amplified by uncertainty surrounding the government’s planned “golden share” framework, which would grant TEPCO permanent veto rights and complicate governance and deal structure negotiations. Adding to the negative tone, TEPCO also temporarily halted treated water discharge operations at Fukushima twice last week due to equipment alarms, reinforcing perceptions of operational fragility.
🇸🇬 Singapore related
- MAS and SGX announced new initiatives to strengthen Singapore’s role in the global gold market, including the development of over-the-counter (OTC) gold clearing infrastructure and expanded central bank bullion vaulting services. The initiative is designed to enhance market liquidity, improve post-trade efficiency, and support more seamless settlement of physical gold transactions in Singapore. By building out both financial and physical infrastructure for precious metals trading, the move reinforces Singapore’s ambition to position itself as a regional safe-haven hub and a key node in global commodities and reserve asset flows.
