Channelling John Lennon, Trump indicated that progress in negotiations with Iran had convinced him to ‘give peace a chance’, but that the US blockade of Iranian ports would remain in place for now...

That guy everyone 'barely knew'? 

"...we continue to only see buying interest on bouts of USDJPY intervention (40bn of excess volumes, once again I suspect 60-65% to prove to be official), and the issue boils down to a few key points."

Coordination of messaging: "appreciates Iran's pledge to not develop nuclear weapons."

...Micron, Intel and Sandisk traded more call volume than the SPY on Tuesday.

Jonathan Karl claimed the president personally checked on him the morning after...

...global oil liftings (into tankers) have recovered to their pre-war level due to a surge in liftings in the Americas...

"We believe the significant sell-off in transport names was overdone." 

Awaiting greenlight from Washington...

"This is getting pretty wild..."

There will be a lag. Even if the Trump administration and Tehran formalize a deal... 

Contrary to expectations that the Treasury may set the stage for higher coupon auctions in 2027, that did not happen. 

“Pretty sure my models are simply not calibrated for this environment...”

NANO Nuclear breaks into the hyperscaler market with short interest over 22%...

On the witness stand, Brockman offered an alternative to plaintiff Musk’s ‘bait-and-switch’ narrative...

The expansion includes three new manufacturing plants in North Carolina and Texas... 

“The market continues to price in de-escalation and an easing in supply constraints. The road ahead is bumpy, but the direction of travel seems clear.”

That is the tenth straight month of job additions and strongest monthly addition since January 2025...