WS #8244
No material new developments in the last 30 minutes. The US-Iran military escalation narrative remains dominant with no counter-signals or de-escalation. The situation is stable with no new data points to report.
Key developments
- US strikes southern Iran; Israeli military announces attacks on Beirut, collapsing Lebanon ceasefire and threatening US-Iran talks
- BOJ Deputy Gov Himino signals continued rate hikes and bond tapering, contingent on Middle East developments
- US credit card defaults hit near-15 year highs, fastest pace since 2008
- SMIC shares set to open up 15% in Hong Kong
- Huawei announces new chip strategy focusing on signal speed, aims for 1.4nm equivalent by 2031
- Garden Grove explosion threat contained; evacuations reduced
- Ukrainian drone campaign knocks out six major Russian oil refineries in May
- Salesforce and Snowflake earnings to focus on AI's software impact