WS #9006

The dominant signal in this window is a flurry of Russia-Ukraine diplomatic activity, with multiple Reuters-sourced posts indicating that Ukraine will officially pass President Zelenskyy's letter to Putin through diplomatic channels, and that Putin will be informed later. This represents an ESCALATION in diplomatic signaling, moving from vague statements to concrete procedural steps. Separately, Iran nuclear deal negotiations show ambiguity, with an advisor to Iran's Supreme Leader stating the current draft has ambiguities that need clarification, suggesting no imminent breakthrough. On the energy front, Brazil plans to ramp up oil output by 30% by 2032 to serve as an alternative to Iranian supply, while the US Strategic Petroleum Reserve nears a 3-year low. In markets, Quantinuum's IPO popped 13% on Nasdaq debut, signaling continued investor appetite for quantum computing. Bitcoin fell to $63,000 amid a $400 billion AI capital rotation narrative, with crypto liquidations exceeding $1 billion. Robinhood expanded its credit facility by 23% to $3.25B and launched a $1.5B buyback program. The Supreme Court ruled against wireless carriers (VZ, T) in an FCC fine dispute, sending shares lower. Palo Alto Networks posted a beat-and-raise quarter citing AI demand, but traded down on high expectations. Private credit redemption caps at Blackstone and Partners Group are drawing attention.