WS #9895

The dominant narrative remains the US-Iran peace deal, with Trump confirming the deal is done and the Strait of Hormuz reopening. Multiple sources (Bloomberg, Polymarket, social media) corroborate the deal's completion and the immediate toll-free reopening of the Strait. This is a major counter-signal to the previous escalation narrative on the Israel-Hezbollah front and the Strait of Hormuz closure. Oil prices are falling sharply (WTI -4.39%, Brent -4.40%) as the deal removes a key supply risk. Gold and mining shares are rising on eased rate-hike fears. The deal also boosts risk assets: Bitcoin climbed past $65K, XRP surged above $1.25, and emerging market stocks rose 2.8%. However, the Israel-Hezbollah front remains a risk: a journalist was hit by an Israeli strike in Lebanon, and Polymarket shows bets on a US-Iran permanent peace deal by June 15 are active but not yet certain. The B-52 bomber crash at Edwards AFB is a separate military incident with limited market impact. In corporate news, Nvidia's $20B bond offering (up from the previously reported $25B notes offering) signals massive AI infrastructure demand, which is positive for NVDA and AI-related names. NeoGenomics launched a $275M convertible notes offering. Insider selling at AXP, META, AMAT, and HOOD is noted but not market-moving. The narrative arc on the US-Iran deal is DE-ESCALATING, while the Israel-Hezbollah front remains STABLE but tense.