WS #13217
The dominant US-Iran conflict narrative remains ESCALATING, with new developments this window: Iran's response plan explicitly targets critical infrastructure of Israel and US energy infrastructure in the Middle East, and a Greek-owned LNG carrier (Gaslog Shanghai) was struck in the Strait of Hormuz, causing a blackout—escalating energy supply risks. Iraq and Turkey signed a 1-year oil pipeline deal to boost exports during Hormuz closures, a partial counter-signal to oil supply fears. The US Treasury intervened in FX markets for the first time since 1998, buying yen and selling euros via Goldman Sachs and Morgan Stanley, a significant macro development. Corporate news: Westinghouse confidentially filed for IPO, and SpaceX reports its first post-IPO earnings on Aug 4, with markets expecting a loss. Tesla's China divestiture report was denied by Musk as 'fake news,' but the SpaceX merger narrative persists. WestJet flight attendants issued strike notice, canceling 81 flights. Bitcoin closed July up 7%, first positive month since April, with three weeks of ETF inflows.
Topics
Key developments
- Iran response plan targets US and Israel critical infrastructure, including energy in Middle East
- Greek-owned LNG carrier Gaslog Shanghai struck in Strait of Hormuz, causing blackout
- US Treasury intervenes in FX markets, buying yen for first time since 1998
- Tesla denies WSJ report of China divestiture for SpaceX merger; SpaceX earnings due Aug 4
- WestJet flight attendants issue strike notice, 81 flights canceled
- Bitcoin closes July up 7%, first positive month since April, with ETF inflows