US Strikes Iran; Stock Rout; SpaceX IPO Oversubscribed | Horizons Middle East & Africa 6/11/2026

Summary

Oil rises after US strikes Iran for a second day, but markets see the conflict as contained. Global equities fall with a deepening tech selloff. SpaceX IPO demand surges with Gulf sovereign wealth fund orders worth billions. Victoria Harling recommends Middle East corporate debt for its low default rates and resilience, while Jeffrey Sexton warns SpaceX is a hype-driven gamble.

• US strikes Iran for a second day; oil rises but remains below $100, markets view wider conflict risk as limited.
• US CPI headline hits three-year high, but core is benign, reinforcing expectations the Fed stays on hold.
• SpaceX's $75B IPO is more than 4x oversubscribed, with Saudi PIF and Kuwait Investment Authority each ordering $1-5B shares.
• Jeffrey Sexton says the SpaceX IPO is a gambling trade driven by hype, not investment, and advises waiting for quarterly earnings.
• Victoria Harling is bullish on Middle East corporate debt, citing the lowest default rates of any EM region and robust growth supported by government diversification spending.
• ECB is widely expected to hike rates by 25bp despite stagflation fears, with new economic projections due.
• Asian equities under pressure; KOSPI trims losses on chipmaker rebounds, MSCI China nears bear market territory.