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Iran updates : Brent crude falls after US-Iran talks, Iran said it had secured waivers for oil & petrochemical exports + the release of some frozen assets, reviving hopes that sanctions relief could return up to 1.5 million barrels per day of Iranian crude, Millions of barrels of oil flowed through Hormuz over the weekend despite Iran’s claims that it had closed the chokepoint again, Vance got (properly) humiliated at the talks in Luzern, ''Trump has gone from America First to Iran First'' many GOP saying..''The art of the surrender'' others are saying.. Markets : NIKKEI keep surging, UK on 'PM resignation' watch, SpaceX draws MSCI's lowest ESG rating, Norway introduces AI restrictions for under 13s, EURUSD key support 1.1400-50 (medium term stuff), USDCHF key res 0.8100 area, we like CHF weaker 'carry' also via EURCHF, GBPCHF (Burnham risk), BTC key 60K support, Apollo ''The Market is paying a premium for Companies that lose money'' (chart available if necessary, China restricts trading with some US rare earth companies SpaceX handed lowest possible ESG rating by MSCI. Triple C score puts Elon Musk’s company on par with Russia after 2022 invasion of Ukraine Meloni’s clear: allies must be respected, not obeyed. Partners must be engaged, not feared. And Europe must defend its interests with strength, pride and political courage #URA - A 155-ton reactor in Italy running on molten lead, with electric heaters faking the uranium, is about to make real electricity with zero nuclear fuel inside, a full-size test of the metal before any fuel goes in China targets dozens of U.S. firms in retaliation for Pentagon blacklist China restricts trading with some US rare earth companies Italy's Prime Minister Giorgia Meloni Fires Back At Trump In New Salvo - AOL Trump told La7 that Meloni begged for a photo at the G7. Meloni answered, on camera, in Italian, "Neither I nor Italy ever beg." Trump escalated on Truth Social, claiming she asked "over and over" and suggesting her low approval traces back to declining to back the Iran war. Meloni answered again, in writing, that her popularity depends on defending Italian interests, not on her relationship with him, and that American base access in Italy runs on mutual agreements rather than personal goodwill. That last sentence is the real one. She is not describing a friendship gone sideways. She is describing an alliance with terms, and reminding him those terms do not include flattery. The biographer calls this a strategy shift among world leaders. It reads more like one head of state finally saying the obvious part out loud.... Iran war live: US-Tehran agree roadmap to reach final deal in 60 days | US-Israel war on Iran News | Al Jazeera A 155-ton reactor in Italy running on molten lead, with electric heaters faking the uranium, is about to make real electricity with zero nuclear fuel inside, a full-size test of the metal before any fuel goes in SpaceX draws MSCI's lowest ESG rating, matching Russia after Ukraine invasion (SPCX:NASDAQ) | Seeking Alpha UBS zwingt Kunde nach 40 Jahren zu Digital-Identifikation – Inside Paradeplatz Swiss government warns of severe heatwave - SWI swissinfo.ch Stay cool ! Mark Leonard on X: "1/Ten years ago, Britain voted for Brexit. New ECFR/Mandate polling out this morning reveals something Westminster hasn't noticed: the country has quietly changed its mind — and not in the way you'd expect. The Leave/Remain divide is dead. Here's what replaced it. 🧵" / X Starmer expected to announce exit plan to clear way for Burnham to become PM | Keir Starmer | The Guardian UK jobs data error: ‘Artificially dampen’ labour market changes, dealing fresh blow to data credibility – Firstpost China targets dozens of U.S. firms in retaliation for Pentagon blacklist 'This might actually force some actual brain cells to fire': Norway is banning younger school kids from using generative AI | TechRadar NIKKEi keeps surging, UK

Iran talks shaky .. : Vance pulled out of scheduled Switzerland negotiations, with the Swiss foreign ministry confirming the talks would not proceed, while Israeli strikes on southern Lebanon continued overnight. Markets : JPY back on intervention watch, FED's hawkishness pushes USD higher as you would expect, USDCHF breaking UP.. #EURCHF #GBPCHF with it and #JPYCHF (SNB can intervene more, technically looking good med-term perspective, JPYCHF PPP is far far away like 30% at a minimum as per most investment banks, SNB balance-sheet is 200bn smaller than in 2022 so room to intervene if they want to - PLEASE ASK, if you need more details on this!!), crude back up a bit towards $80 on Iran talks 'struggling', PALL back to attractive 'buy' levels after sell-off from Q1!, Ukraine left the G7 with Trump backing oil sanctions on Russia instead of leaning on Kyiv. Europe helps Trump stabilize his Iran deal and clear mines from the Strait of Hormuz. This is transactional diplomacy UK's Burnham says Labour has final chance to change after Makerfield by-election win for UK markets ! .. only one way Welfare spending needs to be brought under control Iran US Israel war Live Updates: Trump Optimistic on Ceasefire On All Fronts Even As IDF Continues Striking Lebanon | Times Now U.S.-Iran accord hits early snag after Swiss talks fail to proceed as planned Lebanon state media says 16 killed by Israeli strikes Trump offers Ukraine olive branch at G7 — with a price tag – POLITICO G7 leaders arrived in France expecting a fight over Iran, Ukraine and the next NATO summit. They left more upbeat after Trump signaled readiness to increase pressure on Putin and keep working with allies Gulf airlines get back to business as flights near pre-war levels | Reuters Macro Alpha on X: "🚨 The ultimate export-driven free-trade engine of the world is officially capitulating. Berlin floating an EU version of Section 301 tariffs against China is the death knell for the post-2000 supply chain consensus. They are bleeding out from a €100bn bilateral trade deficit https://t.co/0TFmQ1sxFg" / X This is a violent, structural regime change in global MACRO. Tariffs mean permanently higher friction costs, structurally higher INFLATION floors, and a massive repricing of European margin structures. SPCX’s next big raise — SpaceX reportedly readies $20B bond offering to refinance debt Musk's financial engineering, but hey why not do it when you can ! EU set to remove barriers to banks' cross-border capital flows, FT reports Japan core inflation holds steady in May, matching expectations despite energy price concerns Andy Burnham says his Makerfield by-election win could be turning point Burnham brings in top economists before possible leadership run | Andy Burnham | The Guardian Robert Peston on X: "In May’s local elections, Labour’s implied vote share was 24.3% and Reform’s was more than 50%. Last night Labour’s Andy Burnham received about 55% of the vote, a full 20 percentage points more than Reform’s Robert Kenyon. So Burnham returned what looked like a safe Reform" / X Palladium Price Live: Analysis & Price Trends | GOLDINVEST

Iran 'final update' : The U.S. and Iran have remotely signed their memorandum of understanding to end the war and open the Strait of Hormuz, and the agreement is now in effect, two U.S. officials told Axios, so no Burgenstock ? damn.. Markets : Kevin Warsh’s first Fed meeting sees rates hold steady and makes outright promise to deliver price stability—but don’t expect many details on when!, just 100 words statement, forward guidance is over (Alleluya.. ! ), FX super quiet 'USD slightly higher', USDJPY at or near previous 'intervention levels', equity had a mini close lower, higher again overnight, HSI notably struggling through, Crude $75 welcome development for many clearly (where are all those experts calling for $150 or more..) Warsh said “Persistently high prices are a burden for the American people. But the recent past need not be prologue” and “Members of the FOMC are unambiguous and unanimous: this committee will deliver price stability”, he ended the meeting with ''"I can't give you any guidance on what we're going to do next."... deal with it..>>> Underpinning his emphasis on accountability, his delivery was noticeably more open, engaging, concise, and honest. US, Iran sign deal ahead of Friday meeting Crunching the numbers on Warsh’s lil’ statement statement Ole S Hansen on X: "Crude tumbles as Hormuz reopening nears; gold hit by Fed, lifted by Trump #CrudeOil prices fell to fresh lows after Wednesday’s rebound proved short-lived, with markets continuing to price in a rapid normalization of supply following President Trump's signing of the US-Iran" / X US SEC Innovation Exemption Could Open US Equity Markets to Tokenized Stock Trading US Crude Oil, Gasoline Inventories Still Falling: EIA | OilPrice.com Reform leader Nigel Farage breaking UK company law | The National Magyar Purges Orbán-Era Spy Chiefs, Names Russia Hybrid Warfare Expert - VSquare.org „20 Minuten“ lanciert Arbeiten in Flipflops: Are We Nuts? – Inside Paradeplatz Exclusive: UK in advanced talks with Nissan over Sunderland plant support, sources say | Reuters ‘I’m the boss’: Trump strides into G7 session, leaders demand Lebanon ceasefire | News24 Anthropic’s Dario Amodei Urged AI Unity at G7, Even as US Banned His Models

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