WS #13656
The dominant US-Iran Strait of Hormuz narrative remains in a de-escalation phase with no material new developments in the last 30 minutes. The market continues to price in a resolution, with Brent crude stable around $83.55. No counter-signals or new catalysts have emerged to alter the prevailing thesis. The Russia sanctions bill and Ukraine-Kazakh tanker agreement remain unchanged from prior reporting. Macro data and Fed dynamics are also stable, with no new information to shift the dovish narrative. Overall, the situation is stable and no new actionable signals have surfaced.
Topics
Key developments
- US expects deal soon on Strait of Hormuz; Iran retains control, can charge fees
- US Senate passes Russia sanctions bill allowing 100% tariffs on India, China
- Ukraine agrees not to target Kazakh oil tankers in Black Sea
- Soft US jobs report reinforces dovish Fed; S&P 500 record high
- Apple downgraded to Sell by Phillip Securities on supply constraints and memory costs
- Amazon building massive gas power plant in Texas for AI data centers