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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

Iran update : The US and Iran are preparing to sign an interim peace deal which would dole out broad financial incentives to Iran, including the right to immediately sell oil, tap a $300 billion development fund and eventually unlock frozen assets, Tehran threatened Israel with a “harsh response” if it doesn’t stop its military campaign in Lebanon, state-run IRIB reported, anyhow, the Iran deal will be signed on Friday at the beautiful Burgenstock ! Markets : Kevin Warsh's first FOMC meeting, it'll be Very interesting to see if any big changes (drop the dots !), unchanged, easing bias to be left out finally, and watch inflation expectations though !, JPN exports higher on weaker #JPY, SPACEX is rallying because index funds need it and there is only a 4% float so it has to rally (in short-term at least), on $3trn valuations that's 200x sales on about $20bn annual revenues.. >>> FOMC, be open minded, crude prices gives him optionality, markets look a little overcooked on SPACEX momentum, that being said.. nothing much seems to worry them these days.. specially not lower crude prices (DOW made new highs..) Europe’s Defense Renaissance and America’s Missed Signal, Ukraine’s Wartime Innovation Is a Once in a Century Industrial Catalyst The Strategic Petroleum Reserve has just fallen to its lowest level since August 1983- 340.3mb. That's a 42 yr low. No matter where you stand politically, it's a remarkable statistic: America's emergency oil stockpile hasn't been this depleted since the Reagan era, let's hope there is no renewed 'Iran related pressure' France ends the contract between Palantir and DGSI (domestic intelligence agency). Palantir will be replaced by ChapsVision. The contract had previously been renewed several times for lack of alternative. Germany also moved to ChapsVision earlier this year #PLTR Meloni and Trump speak on sidelines of G7 summit after public spat A Strategic Blunder of Epic Proportion | RealClearDefense The Strategic Consequence The United States is not losing influence in Europe because of policy disagreements. It is losing because Europe is building a defense industrial model that is faster, cheaper, more adaptive, and increasingly independent. Ukraine is the catalyst. Europe is the beneficiary. And unless Washington recalibrates, America will be the strategic loser. US Set to Offer Iran Broad Financial Gains in Peace Deal Exclusive | The Trump-Iran Deal Allows Tehran to Immediately Sell Oil - WSJ SpaceX to Acquire Cursor in $60B Stock Deal, Deepening Elon Musk’s AI Empire The deal for Cursor, the AI coding tool, is all stock. No cash. SpaceX issues shares, hands them over, done, great when you can do this! Months before the IPO, SpaceX took $17.5 billion of old junk debt from xAI and X and parked it on its own balance sheet through a $20 billion bridge loan.The terms? Repaid within six months of listing. So part of the $75 billion that retail and index funds just handed over is already spoken for. Not for Mars. Not for rockets. To clear debts piling up at Elon's other companies. Did I just buy buy the rocket ship, or the loans, best financial engineering ever, you've got to admit.. OKAY..its a near $3trn company now so who cares about $20bn... agreed France replaces Palantir in intelligence systems with local firm ChapsVision, PM says – Firstpost Japan May exports grow at fastest pace in over three years, beating estimates China makes new push to take yuan global, vows vigilance on financial risks - Nikkei Asia Streeting says he would be prepared to trigger leadership contest as early as next week Of course he would.. doing Burnham a favour to get potentially back wiht the new PM.. Good news UK inflation holds steady at 2.8% in May BMW lowers profit outlook due to China downturn, Iran war

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