WS #8701

The dominant signal in this window is the Colombian presidential election result, with far-right candidate Abelardo de la Espriella winning the first round with 43.7% of the vote, ahead of leftist Iván Cepeda at 40.9%. This sets up a polarized runoff on June 21, introducing political uncertainty that could affect Colombian equities and the peso. Separately, a breaking report indicates Nvidia and Microsoft will unveil the first Windows PCs powered by Nvidia's new Arm-based N1-series processors at Computex this week, a significant product launch that could boost NVDA and MSFT. Japan's final manufacturing PMI for May came in at 54.5, confirming continued expansion and supporting positive sentiment for global trade and semiconductor demand. The Fed's Powell gave a speech defending Fed independence, warning that firing officials over policy disagreements would mean 'the Fed ceases to exist,' which reinforces stability but is not new. The Middle East conflict narrative remains stable with no new escalation data in this window. Overall, the Colombian election and Nvidia-Microsoft partnership are the key actionable developments.