WS #7406
No material new developments in the last 30 minutes. The dominant stagflationary narrative remains unchanged, with no counter-signals or de-escalation events to report.
Key developments
- US 30-year Treasury yields hit 5.12%, highest since pre-2008
- Oil surges: WTI +3.54%, Brent +2.99% as Strait of Hormuz closure drains inventories
- Trump-Xi summit ends with no breakthroughs on chips or Iran
- Bill Ackman discloses new Microsoft position, calls it 'highly compelling valuation'
- AAPL dark pool order: 1.5M shares at $301.23, total $451.85M
- Capital Economics warns oil inventories could reach critical levels by end-June, Brent at $130-140/bbl
- Iran's Foreign Minister says all vessels except those from nations at war can transit Strait of Hormuz
- FDA drug center head Tracy Beth Hoeg expected to leave agency