WS #6238
No material new developments in the last 30 minutes. The dominant themes from the previous synthesis—Fed hawkish fracture, oil spike, geopolitical tensions—remain unchanged with no counter-signals or de-escalation.
Key developments
- Fed holds rates at 3.50%-3.75% with 8-4 vote, most dissents since 1992
- Brent crude rises to highest since June 2022; Strait of Hormuz remains closed
- Pentagon discloses $25B cost of Iran operation
- PayPal makes Venmo a standalone business unit, adds ~$1.39B market cap
- Pershing Square USA opens 18% below IPO price at $42
- Putin proposes May 9 ceasefire in Ukraine; Trump supports
- UAE exits OPEC; OPEC+ likely to hike output without UAE