WS #7336

Multiple high-signal developments emerged in this window. The Clarity Act advanced through the Senate Banking Committee, driving a broad crypto rally with Bitcoin hitting $82,000 and XRP surging 6%. Cerebras Systems had a massive IPO debut, with shares nearly doubling from the $185 IPO price, reflecting continued AI stock frenzy. The Strait of Hormuz situation saw a new development: Iran allowed Chinese ships through amid rising tensions after a vessel seizure, and a separate report indicated a vessel sank following a suspected drone strike. This is an escalation from the previous stable/de-escalating assessment. The Trump-Xi summit in Beijing produced notable signals: Xi pressed Trump on Taiwan, and a report suggested Taiwan is part of a larger power deal. Separately, the DOJ dropped Biden-era charges against Gautam Adani after his legal team negotiated a $10 billion investment commitment. The Bank of England's chief economist signaled potential rate hikes to combat Iran energy shock spillovers. On the MAG7 front, OpenAI-Apple relationship deteriorated with OpenAI preparing legal action against Apple, while NVDA saw heavy institutional call buying. The CDC confirmed no Hantavirus cases in the US, countering pandemic fears.