The Market Updates

BREAKING:

🇺🇸 Powell congratulated Warsh on his confirmation and will remain on the Fed Board as Governor after his Chair term ends.

BREAKING: 🇺🇸 Fed Chair Powell confirms this is his last FOMC.

MASSIVE:

🇺🇸 Meta with 3.58 BILLION daily users, has launched crypto stablecoin payouts for creators.

REMINDER:

🇺🇸 Jerome Powell will deliver his LAST press conference as Fed Chair in less than 30 minutes.

🚨 BREAKING 🚨

🇺🇸 Fed keeps rates unchanged as expected.

BREAKING:

Brent Crude Oil just breaks above $119.5/barrel, its highest level since June 2022.

This is happening after reports of CENTCOM preparing for another short wave of strikes against Iran.

🇨🇭 The Swiss want to cap their population!

52% of Swiss voters are now backing a referendum to cap the country’s population at 10 million.

If it passes June 14th, they’d become the FIRST nation in history to officially limit how many people can live there.

It would likely mean tighter immigration controls, meant to keep Switzerland, well, Swiss.

Source: 20 Minuten, Anadolu Agency

🚨 BREAKING:

🇺🇸🇮🇷 Trump has rejected Iran's offer to open Hormuz and deal with nukes later

- CENTCOM has prepared a "short and powerful" strike plan targeting Iranian infrastructure
- After the strikes, the U.S. would push Iran back to the table for nuclear talks
- Trump sees the blockade as "somewhat more effective than the bombing"
- "They are choking like a stuffed pig. And it is going to be worse for them"
- Iran's oil storage and pipelines "are getting close to exploding," Trump claims
- Iran warns the blockade "will soon be met with practical and unprecedented action"

Trump has not yet ordered military action as of Tuesday night.

Source: Axios

🚨CRASH:

🇮🇷 Iran's currency has almost gone to zero.

$1 = 1,388,888 Iranian rial

$720 means you are a BILLIONAIRE in Iran.

⛽🇺🇸 U.S. energy inventories just cratered across the board, far worse than anyone expected.

- Gasoline: -6.075M barrels (forecast -2.785M, more than double the expected draw)
- Crude oil: -6.234M barrels (forecast -0.19M, previously a build of +1.925M)
- Distillates: -4.494M barrels (forecast -2.15M)
- Cushing crude: -0.796M barrels (previously a build of +0.806M)

Every single category missed to the downside.

The supply crunch is accelerating faster than markets priced in.

Source: EIA

BREAKING:

🇺🇸 Senate Banking Committee voted 13-11 to advance the nomination of Kevin Warsh to be the next Fed Chair.

🚨 BREAKING 🚨

USD/JPY just pumped above 160.

"Yen Intervention" is coming.

BREAKING:

🇺🇸 US Treasury just bought back $2,000,000,000 of its own debt.

🇮🇷🇺🇸 Iran's proposal got rejected. Now they're writing a new one.

Here is what's actually happening.

Iran sent a proposal over the weekend through Pakistani mediators. The offer: end the war first, nuclear program talks come later. Trump said no.

So Araghchi flew to Russia, consulted Moscow, then headed back to Tehran. He's now sitting with regime leadership trying to figure out what to offer next.

The problem is getting everyone on the same page is slow. Supreme Leader Khamenei's location is being kept secret, which makes communication harder than it sounds.

Meanwhile Trump posted on social media today saying Iran told the U.S. it is "in a State of Collapse" and wants Hormuz open as "they try to figure out their leadership."

Pakistan's mediators expect a revised proposal within days. But everything depends on one thing: whether Iran comes back with something Washington can actually say yes to.

The ball is in Tehran's court. The court is on fire.

Source: CNN

I’m tired of this shit.

Bitcoin has lost the 1-month uptrend, while the S&P 500 and Nasdaq have both reached new all-time highs.

BTC should be above $90k atleast

🇦🇪 Oil has started to slide immediately following the UAE's OPEC exit announcement.

The market’s reaction is logical:
•⁠ ⁠Outside OPEC constraints, the UAE has greater flexibility to raise output
•⁠ ⁠That expectation alone puts downward pressure on prices
•⁠ ⁠A positive signal for oil-importing economies and consumers facing elevated energy costs

Small move, but the direction is telling.

🩸$500,000,000,000 wiped out from the US stock market at open.

BREAKING:

🇺🇸 President Trump says Iran has informed the US they are in a "State of Collapse" and want the Strait of Hormuz reopened.

Trump says he believes Iran will be able to figure out their leadership situation.

We waited 5 years for this shit.

🩸DUMP

$1,200,000,000,000 has been wiped out from GOLD and SILVER today.