WS #7431

The dominant macro narrative remains bearish on rate hike fears and bond selloff, with no new counter-signals. However, several high-signal developments emerged in this window: (1) SpaceX IPO pricing as soon as June 11, confirmed by multiple sources, with Polymarket contracts trading on IPO market cap above $2T; (2) Tiger Global's 13F reveals new large buys in ARM and AXON, added 40% to CRWV, reduced HOOD, sold BE; (3) Appaloosa Management's 13F shows broad selling including AMD, TSMC, NVDA, MSFT, META, AMZN, and sold entire stakes in AAL, DAL, UAL, ASML, while increasing UBER, VST, BAIDU; (4) David Tepper's 13F shows new large buy in SNDK, doubled VST, boosted UBER, reduced WHR, sold AAL; (5) Cerebras Systems closed $6.38B IPO on NASDAQ; (6) Nvidia takes new stake in Generate Biomedicines with 833,325 shares; (7) Monster Beverage authorizes new $500M buyback; (8) PayPal issued $2B in senior notes; (9) Trump-Xi summit concluded with no major breakthroughs, described as more symbolic than substantive, leaving markets underwhelmed; (10) Geopolitical tensions persist with Strait of Hormuz blockade, Iran airspace closure bets, and Israeli killing of senior Hamas commander. The macro narrative is STABLE with no escalation or de-escalation.