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SpaceX is expected begin trading on the Nasdaq today after raising $75 billion in the biggest-ever IPO and putting Elon Musk on the verge of becoming the first trillionaire. Shadow markets are pricing in a jump of at least 35% on its debut...bring it on ! Iran war updates : Trump was going to bomb the hell out of Iran, and on same day claimed the war is over, deal to be signed this weekend..Per Axios, Trump agreed that one option for resolving the enriched uranium standoff is down-blending the stockpile inside Iran under UN inspector supervision..Trump folding.. Markets : Stocks extended gains and oil slipped after Trump claimed, for the 28th time.. (amazing algo's love the news still), “we ended the war with Iran” and a deal may be signed as soon as this weekend. Global equity futures rose. The two sides agreed on an MoU, which still needs a final sign-off, to extend the truce for 60 days, ECB hiked as priced and expected. The UST Long Bond at or near 5% will be the tell going forward, as usual 10's UST finds some bond buyers above 4.5% yields., China's oil imports are COLLAPSING (thread) OpenAI weighs major pricing shake-up to counter Anthropic as both companies eye trillion-dollar IPO dreams: Report, and pricing war starting !.. The drop in nitrogen fertilizer prices ..!.. India has received offers for its latest urea tender at an average price of $530 per tonne, down ~44% from $947 per tonne in April China warns EU on new sanctions over Ukraine war, The EU needs to grasp a basic point: China is not a minor state waiting for lectures from Brussels... WSJ - Inside the White House Freakout Over the Epstein Files...The president’s top advisers gathered in a series of Situation Room meetings as they struggled to contain a scandal engulfing Donald Trump himself So Christine finally hiked from 2 to 2.25%, with headline inflation at 3.2%, major energy shock mentioned, that same ECB (and others) that saw inflation as transitory in 2022..., then they lowered 2026 and 2027's GDP forecasts by 0.1% to 0.8% and 1.2% respectively..not very consistent nor credible really, luckily many other CB's aren't either, FOMC and BoJ next week + SNB Biggest news so far this week ! The AI bubble bursting SoftBank tried to borrow $6B against its OpenAI stake — then shares plunged 9.7%. Is the AI boom running into reality? The banks don’t believe OpenAI is worth $850 bn then ? and thus other Ai valuation.. The same OpenAI lost $14 billion in 2026 (lost about 10bn last year)...which just filed for a $1 trillion IPO, looks totally normal ?.. SoftBank needed the loan to keep funding OpenAI., to fund the company they already own 13% of, with money borrowed against the stake they already own. Masayoshi Son previously lost $70 billion on WeWork, he called it, at some point, the most valuable company in the world.... can only guess that the banks remembered WeWork............ fascinating times that for sure! OpenAI weighs major pricing shake-up to counter Anthropic as both companies eye trillion-dollar IPO dreams: Report Prices coming DOWN ! ...after all that Capex spending on higher debt! ECB hikes interest rates for first time since 2023 as Iran war ramps up energy costs Trump says he has canceled strikes on Iran, signals move toward deal China warns EU on new sanctions over Ukraine war The EU needs to grasp a basic point: China is not a minor state waiting for lectures from Brussels. If Europe sanctions Chinese, Turkish, Indian or other firms for not following its Russia policy, it should not be surprised when Beijing hits back. Unilateral, extra‑legal sanctions are not “rules‑based order,” they are raw power politics. And China is not a soft target: its industrial base, market size and control over key supply chains mean any escalation will hurt both sides. Europe still behaves as if it runs the world economy. It doesn’t. If Brussels normalises sanctions, China can just as easily normalise counter‑measures. Do not pick a fight with the factory of the world and then complain when the factory starts stress‑testing your supply chain. Huge too, no wonder Trump is unhinged ... Inside Trump’s White House, the Epstein Files Caused a Freakout - The New York Times Collusion, breaking the law, evading subpoenas—it’s all in there: - Trump quashing the files - The VP, COS, DOJ, FBI, and others colluding in the Situation Room to stop their release and compliance - Officials lying to the public - Admin in-fighting and exits - Officials who appeared in front of Congress during this time UK.. plenty of troubles out there.. Channel Tunnel owner threatens legal action over UK’s tripling of business rates Keir Starmer faces fresh blow after resignations by Al Carns and John Healey over defence spending - live updates - BBC News Global Markets Investor on X: "⚠️China's oil imports are COLLAPSING: Chinese crude imports fell to 7.8 million barrels per day in May, the lowest since October 2017. This marks a decline of -3.8 million barrels per day, or -33%, from the 2025 average of ~11.6 million barrels per day. The drop reflects https://t.co/VLjYuHJpvZ" / X

Yes, the World cup kicks off today! Iran war updates : Oil tankers go dark to sneak more barrels through Hormuz (help explains relatively soft crude prices?), Tehran strikes ships in Hormuz, launches attacks on Bahrain, Kuwait and Jordan after US assault U.S inflation hit 4.2%, a 3-year high. But strip out the oil war and core inflation actually cooled a little. This is-looks like a supply shock, not demand. The Fed cannot fix the Strait of Hormuz with rate hikes, though the longer crude prices stay high, the hardest it'll be to deal with inflation, add the K economy to it and it's a nightmare.. >>> "Simply put, the inflation of the Iran war will soon force the US (and by extension, much of the West) to choose between “save the currency” (let bond yields rise sharply with inflation, i.e., bond prices FALL sharply), breaking everything but the USD and gold) or “save the bond market” (print USD to cap UST yields to maintain nominal US government solvency, turbocharging the already accelerating and soon-to-be problematic inflation)." Markets : U.S markets fell as U.S CPI rose to a 3y high, Iran worries on the increase again and SpaceX pre IPO nerves tested, FX super quiet, although #CHF a little softer (200dma #EURCHF is around current levels 0.9230.. ), broadly speaking we expect SNB to be unchanged next week (economy soft, inflation near lows..nothing to do, see here..), and rest of the world likely to hike (ECB to hike today all about 'inflation forecast' going fwd, BoJ priced in, FOMC probably unch but hawkish), should keep CHF on soft side, #Oracle falls after hours on 'higher spending', more debt yet again!, which is slowly but surely being questioned across AI-Tech sector, SpaceX a clear 'sentiment' indicator for the whole sector, either way !, OpenAI considers drastic price cuts, anticipating war for users with Anthropic Bank of America told clients to take profits. Seven of the bank's ten bear market signposts have triggered ChatGPT getting worse, did you notice ? ChatGPT feels dumber than it used to. Your prompts that worked six months ago produce worse results now. The writing sounds flatter. The ideas sound safer >> You thought it was you. It is not you. Researchers at Oxford and Cambridge published a paper in Nature proving what is happening. They call it Model Collapse (Thread) Swiss National Bank expected to resist global rate-hike trend: Reuters poll | Euronews Bank of Japan governor Ueda hospitalised, will miss June meeting | Reuters Oracle’s stock slides after earnings, as the steep price of AI spooks investors OpenAI considers drastic price cuts, anticipating war for users with Anthropic Pimco Warns a Wave of Defaults Is Coming for Low-Quality Borrowers | Financial Post BofA warns investors to take profits as 70% of the bank's bear market signals flash red Oil tankers go dark to sneak more barrels through Hormuz | The Seattle Times US and Iran exchange strikes across Middle East for second day in a row Iran, US-Israel war LIVE updates: Tehran strikes ships in Hormuz, launches attacks on Bahrain, Kuwait and Jordan after US assault - World News | The Financial Express Alex Finn on X: "AI subscriptions are dead Claude Fable 5 will only be on the Anthropic subscription until June 22nd. After that, you will need to pay for usage per token This will be the start of a much larger trend Frontier models will no longer be included in subs You’ll pay a fee and it" / X Nav Toor on X: "You have noticed it. ChatGPT feels dumber than it used to. Your prompts that worked six months ago produce worse results now. The writing sounds flatter. The ideas sound safer. The internet itself feels like it is shrinking. Every article reads the same. Every email sounds the https://t.co/hJHOMEnpEh" /

Central Bank update : pretty insane...46 of 68 global central banks are currently overshooting their inflation targets (Thread), Meanwhile, markets are pricing a 98% probability of a 25bps rate 'hike' from the ECB on June 11th and an 83% probability of a 25bps hike from the Bank of Japan on June 16th. The first FOMC meeting under new Fed Chair Kevin Warsh follows on June 17th Markets : China factory gates hits 4y highs, SpaceX apparently 4x oversubscribed (so sell-off over ? ), interesting political move from Starmer in UK, There is an expected earnings boom in markets right now. But if you look under the hood a lot of it seems to be coming from unrealised gains in stakes of companies that are due for IPO (Thread), Dollar and yields continue to dictate PM's, gold’s direction >>> a strong CPI today will force ''market to reprice'' FED and look for a 'hawkish' FED meeting next week! South Koreans liquidate savings and insurance to Chase SK Hynix and Samsung rally Steve Eisman, the Big Short investor says he fully expects Musk to use the SpaceX IPO stock price to buy Tesla and merge both companies into one giant entity called X Exclusive-SpaceX IPO demand is approaching four times oversubscribed, source says Philip Pilkington on X: "There is an expected earnings boom in markets right now. But if you look under the hood a lot of it seems to be coming from unrealised gains in stakes of companies that are due for IPO. 📈📉 https://t.co/ogiClS4gNN" / X China's factory-gate inflation hits near 4-year high - RTHK Global Markets Investor on X: "‼️THIS IS INSANE: 46 of 68 global central banks are currently overshooting their inflation targets. The US is running +1.8 percentage points above its 2% target, and the Eurozone +1.2 percentage points above. Meanwhile, markets are pricing a 98% probability of a 25bps rate cut https://t.co/WpOLkm4h9M" / X US and Iran exchange strikes as ceasefire crumbles Iran war live: Tehran targets US forces in Bahrain, Jordan, Kuwait | US-Israel war on Iran News | Al Jazeera #ETH Ethereum news: Tom Lee’s BitMine just slashed ETH buying by 74%, here’s what comes next Same as Saylor..Tom Lee's BitMine holds over 5,400,000 ETH, bought at an average near $3,476. With ETH below $1,800, that's roughly $8,900,000,000 in unrealized losses. ‘You can’t fly planes that are empty’: Airlines draw up cuts for ‘ugly’ winter South Koreans Liquidate Savings and Insurance to Chase SK Hynix and Samsung Rally South Koreans are cashing out their insurance policies and savings deposits to pile into the local stock rally. >>> Stuff like this makes you go 'Hummmm', the kind of things you see near overbought, overvalued markets SAXO update from Charu Investor QA Is the AI selloff a reset or a warning shot | Saxo A few key thoughts: This still looks more like a reset within a bull market than the start of a broader bear-market shift. The usual warning signs — recession stress, disorderly yields, extreme oil prices or a broad earnings collapse — are not clearly visible yet. The easy phase of the AI rally is likely over. The market has moved from rerating to proof, which means AI-linked companies now need to show clearer monetisation, earnings delivery, capex discipline and returns on infrastructure spend. This is not a uniform risk-off move yet. The pressure is concentrated in crowded AI and tech winners, while defensives, value areas and laggards are still finding buyers. That makes breadth and rotation important signals to watch. Macro is back in the driver’s seat. Strong US data, higher oil, Middle East uncertainty and renewed Fed hike pricing are making markets less willing to look through bad — or even just less-good — news. Gold vs Silver: Which is the best bet this summer? – The Armchair Trader Arnaud Bertrand on X: "This is extraordinarily rare. In fact, according to a key figure in the German business community (who is a dear friend of mine), it's unprecedented. An op-ed, two pages, centerpiece, in Germany’s most important economic newspaper (the Handelsblatt) that begs the German https://t.co/k7Uhv2HwaE" / X Keir Starmer is about to burn down the Labour Party - but Andy Burnham will get the blame Back me of you are fired.. fair enough, ministers can't have a foot in both camps..choose between loyalty to the government or support the next dude...., no double dealing, can't support Burnham if they are in government, and it will force Burnham to come with actual policies (rather than walk in on populist ideas that he is better).. fascinating Starmer may tell ministers to quit if they back Burnham - Breaking The News StockMarket.News on X: "The man who called the 2008 housing collapse just made a prediction about Elon Musk that is hard to ignore (Save this). Steve Eisman, the Big Short investor says he fully expects Musk to use the SpaceX IPO stock price to buy Tesla and merge both companies into one giant entity https://t.co/Y2plCdMv1y" / X

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