WS #9473
No material new developments in the last 30 minutes. The dominant narrative of Iran conflict escalation, oil supply fears, and stagflation remains unchanged, with no counter-signals or de-escalation detected. The IPO/capital markets counter-narrative is stable but not advancing. No new data points to alter the previous assessment.
Key developments
- IRGC launches ballistic missiles toward Jordan, Iran widens war to US positions in Bahrain, Kuwait, Jordan
- US crude inventories fall 7.23M barrels vs 2.9M expected; Cushing draws 801K barrels; OPEC output hits 20-year low
- US inflation at three-year high; JPMorgan sees May CPI as high-water mark; PIMCO warns credit loss cycle is upon us
- Blackstone says 'year of the IPO is definitely on'; Morgan Stanley's Wilson says offerings signal healthy market
- AI hyperscalers issued $159B in debt in 2026; Amazon enters $17.5B term loan
- Tesla takes out yesterday's low, underperforming