WS #7428

The dominant narrative in this window is a broad market selloff driven by rising bond yields and inflation concerns, with Wall Street pricing out rate cuts and eyeing potential hikes. The global bond selloff is deepening, and the US10Y yield is rising under new Fed Chair Warsh. Tech and semiconductor stocks are trading lower across the board, with the S&P 500 roughly flat for the week but small caps and emerging markets (EEM) crushed. Retail ETF (XRT) hit an all-time weekly low vs SPY, and homebuilders (XHB) are falling sharply. Consumer affordability is worsening, with auto loan delinquencies at a 32-year high. Bitcoin has dropped to $79,000, and crypto sentiment is neutral. However, there are several counter-signals and specific developments: SpaceX has accelerated its IPO timeline to June 11, picking Nasdaq. Trump's Q1 financial disclosures reveal large purchases of Palantir (PLTR) before his public endorsement, as well as buys of Nvidia, Apple, and Amazon. Druckenmiller's 13F shows a new large buy of AVGO and added ROKU. Dark pool alerts show large institutional orders in IWF, SMH, and META. Israel and Lebanon have agreed to extend their ceasefire by 45 days, a de-escalation signal. Iran's FM says Iran will protect security in the Strait of Hormuz, and US Treasury Secretary Bessent says China will help reopen the strait, though Polymarket traders are skeptical. The US is dialling down support for Taiwan, suspending a $14bn arms sale. Ebola outbreaks in Congo and Uganda are being monitored by the CDC. The prevailing macro narrative is bearish (rising yields, inflation, consumer stress), but the SpaceX IPO acceleration, Trump's PLTR purchases, Druckenmiller's AVGO buy, and the Israel-Lebanon ceasefire extension are high-signal developments that could move specific tickers.