Welcome to Markets Desk, your midday read on what's moving markets right now.
Indian equities are extending a painful losing streak, now five sessions deep, as Brent crude punches above one hundred dollars a barrel amid escalating Middle East tensions. Washington's decision to slap a ten percent tariff on Indian imports is compounding the pressure, stoking inflation fears and rattling investor confidence across the subcontinent.
Shifting to corporate credit, Galaxy Digital's data center subsidiary has priced a sizable three point five billion dollar private offering of senior secured notes at a coupon of nine point eight seven five percent, due two thousand thirty one. That's aggressive yield in today's environment, signaling the firm is willing to pay up to fund its digital infrastructure buildout as demand for data center capacity remains intense.
And in autos, Kia reported second quarter results that tell a split story — sales climbed, but operating income fell, and the stock is trading lower on that margin compression. Nearby, Hyundai Mobis managed to grow both operating profit and sales in the second quarter, yet its shares are also under pressure, suggesting investors may be pricing in broader uncertainty around global auto demand and supply chain costs.
That's the tape. Markets Desk, signing off the floor.
