The finance ministers of the six biggest EU economies have called for centralized supervision of major financial entities to boost competitiveness amid challenges such as low growth and global competition. The proposal, which marks a shift for Germany, aims to unify capital markets under the European Securities and Markets Authority. However, smaller member states, including Ireland and Luxembourg, have expressed concerns about losing national oversight.

The US Securities and Exchange Commission and US Commodity Futures Trading Commission have formalized a coordination pact through a memorandum of understanding to align their rulemaking, supervision, and enforcement, particularly regarding financial markets and digital assets. This agreement aims to address longstanding issues of overlapping jurisdiction and regulatory inefficiencies, setting the stage for clearer guidance and shared oversight responsibilities between the two agencies.

Global bonds have lost all gains for the year as rising oil prices driven by geopolitical tensions have sparked fears of renewed inflation. The Bloomberg Global Aggregate Index is now flat for 2026, after having been up as much as 2.1% through late February. US Treasury yields have climbed to multi-month highs as investors anticipate that inflation will outweigh the traditional flight to safe-haven assets.

Asian banks are reassessing their lending strategies in the Middle East due to escalating conflict in the region. At the Asia Pacific Loan Market Association meeting in Hong Kong, private discussions centered on the risks posed by the conflict, leading some banks to pause or review their Middle East operations. This marks a shift from the recent enthusiasm for the region, where syndicated loan volumes rose by 12% in 2025.

Financial advisers say market swings tied to the Iran conflict are prompting investors to rebalance portfolios, favor high-quality bonds and hold more cash for near-term needs. Some are also increasing allocations to gold and using strategies such as tax-loss harvesting to manage risk and capture opportunities during volatility.

An Iranian military official warned oil prices could surge to $200 per barrel if conflict disrupts shipping through the Strait of Hormuz, after several ships were struck by projectiles in the area. The warning came as global crude prices remain elevated following the United States and Israel's attacks on Iran and ongoing threats to a shipping route that carries about a fifth of the world's oil.

The Bank of England signaled it may revise proposed limits on stablecoin holdings after industry criticism that the caps could stifle innovation and prove difficult to enforce. Deputy Governor Sarah Breeden said regulators remain open to alternative ways of preventing large shifts of deposits from banks into stablecoins while final rules are developed.

The International Organization of Securities Commissions sees no need for central counterparties to increase the capital they contribute to default funds, Secretary General Rodrigo Buenaventura said. He said CCPs have demonstrated strong resilience through stress tests and recent market volatility, suggesting current "skin-in-the-game" requirements provide sufficient incentives for robust risk management.

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