WS #8236
No material new developments in the last 30 minutes. The US-Iran military confrontation narrative remains stable with no new incidents or counter-signals reported. The Treasury yield curve warning and Microsoft's Claude Code license cancellations are unchanged from prior coverage.
Key developments
- US forces conduct self-defense strikes in southern Iran, killing 4 IRGC personnel
- Treasury yield curve flashes higher-for-longer warning under Fed Chair Warsh
- Microsoft starts canceling Claude Code licenses, competitive move against Anthropic