WS #8170

The dominant theme remains the US-Iran peace deal narrative, but this window shows a clear de-escalation from 'imminent deal' to 'framework only' with significant caveats. Multiple sources (Al Jazeera, AP, BBC, Reuters) corroborate that Trump told negotiators not to rush, the US blockade stays until a deal is signed, and Iran's foreign ministry spokesperson said a 14-point MOU focuses on ending the war and Hormuz transit but nuclear issues will be negotiated over 60 days. This tempers the oil price decline and equity rally seen earlier. Separately, China's solar installations fell for the fourth straight month, and Beijing cracked down on cross-border trading, causing a Chinese brokerage tycoon to lose $1.7 billion in one day. Japan's Nikkei hit an all-time high on Iran deal hopes, but the new statements suggest the optimism may be overdone. The Iran deal narrative is DE-ESCALATING from 'imminent' to 'framework only', which may support oil prices and dampen the equity rally. Bitcoin ETFs saw a six-day outflow streak totaling $1.55 billion, pushing net inflows to just $536 million in 2026. Hyperliquid hit a new ATH in futures market share vs Binance at 16.28%, and is expanding into pre-IPO and prediction markets, challenging traditional exchanges.