Bloomberg — 2026-03-30#

Lead Story#

Oil surged past $100 a barrel for the first time since the onset of the US-Israel war against Iran, driven by a sharp escalation in hostilities that included Iran striking a fully laden Kuwaiti oil tanker in Dubai and Yemen’s Houthis firing ballistic missiles at Israel. President Donald Trump threatened to obliterate Iranian energy infrastructure, including the critical Kharg Island export hub, if the Strait of Hormuz is not reopened, sending shockwaves through global energy and financial markets.

Markets & Economics#

• Government Bonds Rally Around the World on Slowdown Concerns Sovereign bond yields are falling globally as the protracted Middle East conflict shifts investor focus from inflation to stagflation and growth risks. Federal Reserve Chair Jerome Powell noted that the central bank is carefully monitoring the supply shock from rising oil prices, though he stated longer-term inflation expectations remain anchored.
• Indian Rupee Jumps as Central Bank Races to Shore Up Currency The Reserve Bank of India took its most dramatic step in over a decade to curb speculation against the rupee, triggering a short squeeze after the currency hit a fresh low due to oil-driven pressures.
• German Inflation Surges to Highest in More Than Year on War The energy shock propelled German inflation to its highest level in over a year in March, hardening expectations that the European Central Bank may be forced to hike interest rates.

Business & Industries#

• Billionaire Kirsh Sells Jetro Restaurant Depot to Sysco for $29 Billion Sysco Corp. agreed to acquire privately held Restaurant Depot LLC for $29.1 billion, a massive transaction that will create one of the largest food-service groups in the US.
• Air Canada CEO to Quit After Furor About Crash Condolence Video Michael Rousseau is stepping down as Air Canada’s chief executive following a public relations disaster involving an English-only video statement regarding a deadly runway collision at LaGuardia Airport.
• Apollo Said to Near $10 Billion Deal for KKR’S Atlantic Aviation Apollo Global Management is nearing an agreement to acquire private jet fixed-base operator Atlantic Aviation from rival KKR & Co. in a transaction valuing the business at nearly $10 billion.
• E*Trade in Talks to Lead SpaceX IPO for Retail, Report Says Morgan Stanley’s E*Trade is reportedly negotiating to lead the retail portion of SpaceX’s highly anticipated initial public offering, while Nasdaq enacted rule changes to fast-track index entry for such mega-cap listings.

Policy & World#

• Billions of Dollars and More Than 50 Years Later, NASA Prepares to Return to the Moon NASA is set to launch the Artemis II mission, sending four astronauts on a 5,000-mile journey past the far side of the moon in an elaborate dress rehearsal for establishing a future lunar base.
• Xi Invites Taiwan Opposition Leader to First Visit in Decade Chinese President Xi Jinping invited the leader of Taiwan’s Kuomintang opposition party to the mainland, marking the first such visit by a sitting KMT leader since 2016 amid heightened regional tensions.
• Private Credit, Crypto Face Easier Path to 401(k)s in US Plan The Trump administration proposed new legal protections for companies offering alternative assets in retirement plans, potentially opening the $14 trillion 401(k) market to private equity and crypto firms.

Opinion & Analysis#

• The Oil Market Is Moving Into Demand Destruction Mode Bloomberg Opinion notes that with the Strait of Hormuz effectively closed, the global economy is mathematically short of oil, forcing a painful transition into demand destruction unless the war ends swiftly.
• World War III’s First Shots Will Be Fired in Space The next great conflict won’t start on the ground, but rather with adversaries taking out the satellites and orbital technologies that power modern military communication and surveillance.