WS #5851

The dominant signal in this window is the confirmation that the DOJ has dropped its criminal probe into Fed Chair Jerome Powell, clearing the path for Kevin Warsh's confirmation as the next Fed chair, which could signal a shift toward rate cuts and crypto-friendly regulation. This is corroborated by multiple sources (Al Jazeera, CoinDesk). Separately, the Strait of Hormuz crisis continues to escalate with both Iran and the US blockading the strait, oil at $106, and mine risks mounting. Google's investment in Anthropic (up to $40B) is confirmed by Bloomberg, reinforcing the AI infrastructure buildout thesis. Intel's blowout Q1 earnings continue to lift semiconductor stocks. In crypto, a US soldier was charged with insider trading on Polymarket for betting on Maduro's capture, highlighting regulatory risks for prediction markets. The EU and US signed a critical minerals MOU, and EU trade commissioner Sefcovic discussed steel and energy security with US Commerce Secretary Lutnick, suggesting potential tariff relief. The Bank of England deputy governor warned stock markets are too high and set to fall, a bearish signal for global equities.