WS #10567

The dominant narrative from the previous window—US-Iran de-escalation and Ukraine's strikes on Russian oil infrastructure—continues with no material new developments in the last 30 minutes. No counter-signals or non-dominant-narrative developments have emerged to alter the existing outlook. The data dump is overwhelmingly noise: sports betting, spam, and routine financial filings. The only actionable signal is the BOJ Summary of Opinions, which reveals a hawkish tilt: members noted inflation expectations shifting, wholesale price rises becoming clearer, and AI-related demand pushing up prices more than expected. One member explicitly said there is no reason to halt JGB purchase reductions. This reinforces the BOJ's tightening trajectory, which could pressure Japanese equities and the yen, with second-order effects on US tech via higher discount rates. Separately, a Seeking Alpha headline reports the Supreme Court ruling allowing Exxon to sue Cuba over confiscated assets—a minor positive for Exxon but not market-moving. The tech selloff noted in the previous window (NVDA -3.7%, AMD -7.5%, MU -11.7%) is confirmed by a market close post, but no new catalysts emerged. Gold dropped below $4,100 on tech-led liquidation, but this is a symptom, not a new signal. The Strait of Hormuz détente continues to ease oil prices (WTI -0.4% to $72.89), but this is already priced. Overall, the window is low-signal; the BOJ hawkishness is the only development with potential to move markets in the next 1-8 hours.