WS #7631
No material new developments in the last 30 minutes. The dominant narrative remains ESCALATING geopolitical risk in the Middle East with oil supply disruption fears, but no fresh data points or counter-signals have emerged to alter the outlook.
Key developments
- Pakistan deploys 8,000 troops and fighter jets to Saudi Arabia under mutual defense pact
- Saudi Arabia blames Iraq for drone strike near UAE Barakah nuclear plant
- IDF evacuates three villages in southern Lebanon
- Adani Enterprises settles with US Treasury for $275M over Iran sanctions violations
- Yardeni warns Fed may need to hike in July to appease bond vigilantes; 30-year yield above 5%
- EU Commission warns of stagflationary shock from Iran war, cutting growth and raising inflation forecasts
- Trump approval rating falls to 37% (lowest of second term); 2/3 of voters say Iran war was wrong call
- NVDA earnings on May 20: bearish MRVL options flow, dark pool QQQ buy, retail positioning