WS #5994

The dominant signal remains the attempted assassination of President Trump at the White House Correspondents' Dinner, with new details emerging: the shooter's manifesto was anti-Christian (Trump), and the suspect, identified as Cole Tomas Allen, traveled from Los Angeles to Washington by train and checked into the hotel as a guest. The acting Attorney General Todd Blanche stated the suspect intended to attack Trump and administration officials. Global leaders have condemned the attack. Separately, Trump made multiple statements on Iran, including that the US will seize Iran's 'nuclear dust' and that Iran cannot have nuclear weapons. He also said the US won't send officials 18 hours for a meeting. In a significant development, Senator Thom Tillis has withdrawn his opposition to Kevin Warsh's nomination as Fed Chair, clearing a major hurdle for the confirmation. Tillis stated he is ready to move forward, believing Warsh will be a great Fed Chair. This removes a key obstacle to Trump's plan to replace Jerome Powell. Russia and North Korea agreed to long-term military cooperation, with a plan to sign a cooperation plan for 2027-2031. The assassination attempt and Iran developments are the highest-signal items, with the former reinforcing risk-off sentiment and the latter potentially signaling de-escalation. The Tillis-Warsh development is a major positive for financials and could shift rate expectations.