WS #8505

President Trump has posted on Truth Social that he is meeting in the Situation Room to make a final determination on Iran, stating the naval blockade will be lifted from both sides, uranium will be unearthed by the U.S. in coordination with Iran and the IAEA and destroyed, and no money will be exchanged until further notice. This represents a significant de-escalation of the Iran conflict, with the blockade lift directly impacting oil supply routes. Multiple sources (Alpaca News, Bluesky posts citing Reuters) corroborate the announcement. The Chicago PMI for May crushed expectations at 62.7 vs 51.8, indicating strong economic expansion and supporting the soft-landing narrative. Markets are reacting with indices higher (DJIA crossing 51k, QQQ +10.1% in May) while oil has fallen to near three-month lows. Bitcoin continues to slide to $72,500, down 5.5% on the week, putting its two-month winning streak in jeopardy. A federal judge has temporarily blocked Trump's $1.8 billion fund for January 6 defendants, a political development with limited direct market impact. The dominant theme is Iran de-escalation, which is bullish for equities and bearish for oil, but Bitcoin remains weak despite the risk-on move.