WS #7767

The dominant signal in this window is the US Senate advancing a War Powers Resolution to curb Trump's authority to wage war on Iran, passing a procedural vote 50-47 with four Republican defections (Collins, Murkowski, Rand Paul, Cassidy). This is corroborated by multiple sources (CBS News, Bluesky posts, CNBC Daily Open) and represents a de-escalation signal for geopolitical risk, dampening the prevailing bearish thesis on oil and defense stocks. Separately, NextEra Energy is reportedly acquiring Dominion Energy, creating the world's largest regulated utility, which is a major M&A signal for the utilities sector. Coal prices in Far East ports hit $90/ton, up 24.1% YTD, driven by Chinese stockpiling and Middle East crisis, adding to energy inflation pressures. The 30-year Treasury yield reached 5.19%, its highest since 2007, with HSBC warning of a 'danger zone' for risk assets. Ukraine struck Russia's Rostov-on-Don region, and drone strikes were reported in Russia's Yaroslavl region, escalating the Ukraine-Russia conflict. Thomas Massie lost his primary to a Trump-backed challenger, consolidating Trump's influence. The prevailing macro narrative of rising bond yields and Iran tensions is STABLE, but the Senate resolution and the NextEra-Dominion deal are new counter-signals that dampen bearish geopolitical and oil theses.