WS #8160

The dominant narrative remains the U.S.-Iran peace deal, with multiple sources now reporting an agreement in principle. A Bloomberg report indicates India state lenders are wilting as Iran war lifts yields to 2-year high, confirming the macro impact of the conflict. Trump has offered Iran a framework for a temporary memorandum of understanding in two weeks, while NYT reports the U.S. and Iran have reached an agreement in principle to reopen the Strait of Hormuz and dispose of Iran's 60% enriched uranium stockpile. This represents a significant de-escalation from the prior mixed signals, though details remain unresolved. Separately, a safety accident on a Malaysian oil drilling platform resulted in 3 deaths and 1 injury, which could tighten oil supply. Russia's Belgorod region is under drone attack with energy infrastructure damaged, adding geopolitical risk. Nvidia's forecast for a $200 billion CPU market includes China, signaling continued AI demand. The Iran deal narrative is now ESCALATING toward resolution, which is bearish for oil prices and bullish for equities, particularly airlines and consumer discretionary.