WS #6450
No material new developments in the last 30 minutes. The Iran peace process remains stalled with no new statements or actions. The Ukrainian drone strikes on Russian oil infrastructure are ongoing but no new attacks reported. Fed Barr's warning on private credit stress is unchanged. OPEC+ production increase is symbolic and irrelevant. Trump's EU auto tariff announcement is unchanged. The narrative is stable with no new data points.
Key developments
- Iran submits 14-point peace proposal; US responds but Trump skeptical
- Ukraine drone strikes hit Russia's Primorsk oil port and three tankers
- OPEC+ agrees to 188,000 bpd production increase for June
- Treasury Secretary Bessent says US is 'suffocating' Iran with economic blockade
- Apple reports strong Q1 revenue but warns of rising memory costs
- Fed's Barr warns private credit stress could trigger wider market panic
- Trump announces 25% tariff on EU auto imports
- Spirit Airlines ceases operations, stranding passengers