EXCHANGE: COMEX
CONTRACT: JUNE 2026 COMEX 100 GOLD FUTURES
SETTLEMENT: 4,560.500000000 USD
INTENT DATE: 05/29/2026 DELIVERY DATE: 06/02/2026
FIRM ORG FIRM NAME ISSUED STOPPED
072 H GOLDMAN 1 4
099 H DEUTSCHE BANK AG 318
167 C MAREX 18
167 H MAREX 1
190 H BMO CAPITAL MARKETS 62
323 C HSBC 97
363 H WELLS FARGO SECURITI 57
555 C BNP PARIBAS SEC CORP 348
624 C BOFA SECURITIES 232
657 H MORGAN STANLEY 8
661 C JP MORGAN SECURITIES 134
685 C RJ OBRIEN 5
686 C STONEX FINANCIAL INC 51
686 H STONEX FINANCIAL INC 35
690 C ABN AMRO CLR USA LLC 3
709 C BARCLAYS 298
880 C CITIGROUP 7
880 H CITIGROUP 48
905 C ADM 21
TOTAL: 874 874
MONTH TO DATE: 24,494 (CME correction)
GOLD: NUMBER OF NOTICES FILED FOR JUNE/2026: 874 CONTRACTs NOTICES FOR 87,400 OZ or 2.7185 TONNES
total notices so far: 24,494 contracts FOR 2,449,400 OZ OR 76.186 TONNES
(CME correction)
SILVER NOTICES: 150 NOTICE(S) FILED FOR 0.750 MILLION OZ /
total number of notices filed so far this month : 1843 CONTRACTS (NOTICES) for 9.215 million oz
SILVER//OUTLINE
INITIAL STANDING FOR JANUARY: 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NEW NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK FOR .100 MILLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ!!
INTIAL STANDING FOR FEBRUARY/SILVER: 13.505 MILLION OZ FOLLOWED BY TODAY’S HUGE 0.005 MILLION OZ QUEUE JUMP / : NEW STANDING FOR SILVER AT THE COMEX ADVANCES TO 25.180 MILLION OZ. BUT WE MUST ADD OUR FIRST EXCHANGE FOR RISK OF 25 CONTRACTS FOR .125 MILLION OZ AND THEN OUR SECOND EXCHANGE FOR RISK OF .0600 MILLION OZ TO OUR THIRD HUGE 2.825 MILLION OZ EXCHANGE FOR RISK!!
INITIAL STANDING FOR MARCH: A SURPRISINGLY LOW 31.076 MILLION OZ/ FOLLOWED BY A TINY QUEUE JUMP OF 1 CONTRACTS OR 0.005 MILLION OZ/NEW STANDING ADVANCES TO 46.060 MILLION OZ
INITIAL STANDING FOR APRIL: 7.120 MILLION OZ FOLLOWED BY TODAY’S 1 CONTRACT QUEUE JUMP WHERE 5,000 OZ WILL TAKE DELIVERY OVER ON THIS SIDE OF THE POND. NEW STANDING FOR SILVER AT THE COMEX THUS ADVANCES SLIGHTLY TO 16.565 MILLION OZ PLUS WE MUST ADD OUR 4TH EXCHANGE FOR RISK ISSUANCE OF 17 CONTRACTS OR 0.085 MILLION OZ. THESE WILL BE ADDED TO OUR OTHER 3 ISSUANCES //NEW TOTAL EXCHANGE FOR RISK//1.165 MILLION OZ// NEW TOTAL SILVER STANDING 17.730 MILLION OZ//
INITIAL STANDING FOR MAY: 31.495 MILLION OZ FOLLOWED BY ANOTHER 3 CONTRACT EXCHANGE FOR PHYSICAL JUMP TO LONDON FOR 0.015 MILLION OZ// AND THEN TO BOOT WE HAD OUR FIRST EXCHANGE FOR RISK ISSUANCE FOR 51 CONTRACTS OR 255,000 OZ MAY 21./STANDING BEFORE EXCHANGE FOR RISK: 32.070 MILLION OZ/NEW STANDING THUS REDUCES TO 32.325 MILLION OZ/.//(32.070 MILLION OZ NORMAL STANDING PLUS .255 MILLION OZ EXCHANGE FOR RISK = 32.325 MILLION OZ)
JUNE INITIAL STANDING FOR SILVER:10.935 MILLION OZ (CME CORRECTED) TO WHICH WE ADD OUR FIRST QUEUE JUMP OF 20,000 OZ//NEW STANDING 10.955 MILLION OZ//
SUMMARY OF OUR JUNE 2026 COMEX CONTRACT MONTH:
JULY: 50.925 MILLION OZ (QUITE SMALL)
AUGUST: 59.455 MILLION OZ (QUITE SMALL)
SEPT. 50.510 MILLION OZ.(QUITE SMALL)
OCT; 82.020 MILLION OZ (WILL BE STRONG THIS MONTH)/ OCC WANTS TO REIN IN THESE ISSUANCES!
NOVEMBER: 36.425 MILLION OZ
DEC: 45.765 MILLION OZ
JANUARY 2026: 134.270 MILLION OZ (WILL BE A VERY STRONG MONTH FOR EXCHANGE FOR PHYSICAL!)
FEB : 82.130 MILLION OZ
MARCH: 56.075 MILLION OZ
APRIL; 44.44 MILLION OZ//FINAL.. SMALL THIS MONTH.
MAY 59.79 MILLION OZ
JUNE…2.000 MILION OZ
AND JULY: 46.720 MILLION OZ//
AUGUST: 4.70 MILLION OZ INITIAL STANDING PLUS TODAY;S 5,000 OZ QUEUE JUMP //NEW STANDING ADVANCES TO 10.960 MILLION OZ
SEPTEMBER: 68.040 MILLION OZ NORMAL DELIVERY(INCLUDES ALL QUEUE JUMPING AND EXCHANGE FOR PHYSICAL TRANSFERS) PLUS 3.0 MILLION OZ EX FOR RISK = 71.040 MILLION OZ. (THIS IS THE FIRST AND ONLY ISSUANCE OF EXCHANGE FOR RISK FOR SILVER SINCE MAY.)
OCTOBER: 39.565 MILLION OZ OF NORMAL DELIVERY INCLUDES ALL QUEUE JUMPING
PLUS
2.110 MILLION OZ EXCHANGE FOR RISK//TOTAL OZ STANDING IN OCT ADVAN
NOVEMBER: INITIAL STANDING AT 11.575 MILLION OZ FOLLOWED BY TODAY’S 195,000 OZ QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 9.155 MILLION OZ//STANDING ADVANCES TO 19.670 MILLION OZ/
DECEMBER: INITIAL AMOUNT STANDING FOR DELIVERY: 49.33 MILLION OZ// FOLLOWED BY ANOTHER STRONG 835,000OZ QUEUE JUMP+ DEC. FIRST EXCHANGE FOR RISK 0F .850 MILLION OZ + LAST WEEK.S 495,000 OZ EXCHANGE FOR RISK AND THEN A 3RD ISSUANCE IF 1.00MILLION OZ THEN FINALLY DEC 249ISSUANCE OF 1.35 MILLION OZ EXCHANGE FOR RISK//NEW TOTAL EX FOR RIS IS 3.685 MILLION OZ // STANDING ADVANCES TO 68.415 MILLION OZ//
JANUARY: INITIAL STANDING 22.915 MILLION OZ FOLLOWED BY TODAY’S 1.185 MILLION OZ QUEUE JUMP//NORMAL STANDING ADVANCES TO 49.445 MILLION OZ// TO WHICH WE ADD OUR FIRST EXCHANGE FOR RISK OF 0.100 MILLLION OZ//NEW STANDING ADVANCES TO 49.545 MILLION OZ
FEB: 13.399 MILLION OZ IS OUR INITIAL STANDING FOR SILVER! TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 5,000 OZ AND THEN ADD OUR 3 EXCHANGE FOR RISK FOR 3.010 MILLION OZ STANDING ADVANCES TO 28.190 MILLION OZ!!
MARCH: INITIAL AMOUNT OF SILVER STANDING IS 31.076 MILLION OZ FOLLOWED BY A FINAL 0.210 MILLION OZ QUEUE JUMP //NEW TOTAL STANDING ADVANCES TO 46.060 MILLION OZ
APRIL 2026: INITITAL AMOUNT OF SILVER STANDING 7.120 MILLION OZ FOLLOWED BY TODAY’S 5,000 OZ QUUE JUMP //NEW STANDING ADVANCES TO 16.565MILLION OZ PLUS 1.165 MILLION OZ EXCHANGE FOR RISK.NEW TOTALS 17.730 MILLION OZ
MAY: INITIAL AMOUNT OF SILVER WILLING TO STAND; 31.495 MILLION OZ/ TO WHICH WE ADD OUR NEXT EXCHANGE FOR PHYSICAL JUMP OF 15,000 OZ//NEW STANDING REDUCES TO 32.070 MILLION OZ//(FOLLOWING MANY EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON DURING THIS MAY DELIVERY MONTH). THERE SEEMS TO BE A SCARCITY OF SILVER OVER AT THE COMEX). THEN WE ADD OUR FIRST EXCHANGE FOR RISK OF 51 CONTRACTS FOR 255,000 OZ//STANDING ADVANCES TO 32.325 MILLION OZ//
JUNE: INITIAL AMOUNT OF SILVER WILLING TO STAND: 10.935 MILLION OZ PLUS OUR FIRST QUEUE JUMP OF 0.020 MILLION OZ//NEW STANDING: 10,955 MILLION OZ
1.MAY SUMMARY FOR MAY TONNES WHICH STOOD FOR DELIVERY:
4. AUGUST: 60.547 TONNES OF INITIAL GOLD FIRST DAY NOTICE FOLLOWED BY THE NET MONTH’S QUEUE JUMP OF 47.2312 TONNES TO WHICH WE ADD THE FOLLOWING EXCHANGE FOR RISK ISSUANCE RECEIVED FOR THE MONTH: 5.4432 TONNES EX FOR RISK/AUG 7 , AUG 11: 2.413 TONNES EX FOR RISK AND AUG. 12 OF 2.
5.SEPT: INITIAL 8.093 TONNES OF GOLD PLUS TODAY’S QUEUE JUMP OF 0.4883 TONNES PLUS 2.2827 TONNES OF EXCHANGE FOR RISK TODAY//NEW TOTAL EX. FOR RISK/MONTH = 22.923//NEW TOTAL STANDING FOR GOLD SEPT ADVANCES TO = 48.801 TONNES!!
6.OCTOBER: 90.012 TONNES OF INITIAL GOLD STANDING WITH TODAY’S TINY 0.00311 TONNES QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS DURING OCT OF 76.1656 TONNES
THEN WE MUST ADD OUR 14.553 TONNES OF OUR ISSUANCE OF EXCHANGE FOR RISK/6 OCCASIONS//NEW TOTAL OF GOLD STANDING ADVANCES TO 197.5141 TONNES OF GOLD.
7.NOVEMBER BEGINS WITH 15.651 TONNES INITIALLY STANDING FOR DELIVERY FOLLOWED BY TODAY’S QUEUE JUMP OF 2.323 TONNES FOLLOWED BY ALL PREVIOUS QUEUE JUMPS IN OF OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE OF 4.5596 TONNES//NEW STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
8. DECEMBER BEGINS WITH INITIAL STANDING OF 83.813 TONNES OF GOLD FOLLOWED BY TODAY’S 0.0TONNE QUEUE JUMP WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR 4 EXCHANGE FOR RISK FOR DECEMBER OF 6.587 TONNES/NEW STANDING ADVANCES TO 121.977 TONNES
9. JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR FIRST EXCHANGE FOR PHYSICAL TRANSFER OF 0.08709 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEB; INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 93.567 TONNES OF GOLD TO WHICH WE ADD OUR NEXT 0.0248 TONNES 0.1555 TONNES QUEUE JUMP TO 41.2082 TONNES/ NEW NET QUEUE JUMP INCREASES TO 41.233 TONNES// AND THEN WE ADD OUR SIX EXCHANGE FOR RISK: 10,080 CONTRACTS OR 31.251 TONNES//NEW STANDING REDUCES TO 157.878 TONNES
MARCH:: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 8.099 TONNES TO WHICH WE ADD TODAY’S FAIR 4600 OZ QUEUE JUMP (0.2320 TONNES) AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES //NEW STANDING ADVANCES TO 67.6648 TONNES/
APRIL: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY: 52.600 TONNES FOLLOWED BY OUR 345 CONTRACT QUEUE JUMP FOR 34,500 OZ/ (1.073 TONNES)/NEW STANDING ADVANCES TO 70.286 TONNES TO WHICH WE ADD OUR 2ND EXCHANGE FOR RISK OF 1498 CONTRACTS FOR 149800 OZ OR 4.659 TONNES. THE NEW TOTAL EXCHANGE FOR RISK FOR THE MONTH OF APRIL IS 2239 CONTRACTS OR 223900 OZ OR 6.964 TONNES AND THIS WILL BE ADDED TO OUR NORMAL DELIVERY TOTALS (70.762 TONNES) TO GIVE US WHAT WILL STAND IN APRIL (77.726 TONNES)
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 345 CONTRACTS OR 34500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCES FOR 24.635 TONNES/STANDING NOW ADVANCES TO 51.554 TONNES OF GOLD.
JUNE; INITIAL AMOUNT OF GOLD WILLING TO STAND; 64.496 TONNES.(CME CORRECTED) TO WHICH WE ADD OUR FIRST HUGE 15.696 TONNES OF A QUEUE JUMP/NEW STANDING ADVANCES TO 80.814 TONNES
STANDING FOR THE LAST 5 MONTHS JANUARY TO MAY:
FINAL STANDING FOR GOLD, JANUARY CONTRACT AT 59.2108 TONNES OF GOLD
FEBRUARY: INITIAL STANDING FOR GOLD: 157.878 TONNES!! WHICH INCLUDES ALL QUEUE JUMPING, THREE EXCHANGE FOR PHYSICAL TRANSFERS TO LONDON AND OUR SIX ISSUANCES EXCHANGE FOR RISK!!
MARCH: INITIAL STANDING AT 8.099 TONNES TO WHICH WE ADD OUR FINAL DAY: 0.2320 TONNES QUEUE JUMP AND THEN ADD +22.3818 TONNES EXCHANGE FOR RISK//NEW STANDING ADVANCES TO 67.6648 TONNES
APRIL: INITIAL STANDING 52.600 TONNES PLUS 27,800 OZ QUEUE JUMP (0.8648TONNES): NEW STANDING ADVANCES TO 70.286 TONNES PLUS OUR TWO EXCHANGE FOR RISK FOR 223,900 OZ OR 6.964 TONNES/NEW STANDING: 77.726 TONNES
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND; 12.24 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP FOR 345 CONTRACTS/34,500 OZ// 1.073 TONNES/ THEN WE MUST ADD OUR EXCHANGE FOR RISK ISSUANCE: TOTAL EXCHANGE FOR RISK MAY// 5 OCCASIONS: 24.635 TONNES///NEW STANDING NOW ADVANCES TO 51.554 TONNES
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES TO WHICH WE ADD OUR FIRST QUEUE JUMP OF 15.696 TONNES//NEW STANDING ADVANCES TO 80.814 TONNES
JAN. 2025: 257.919 TONNES (ISSUANCE WILL BE PRETTY GOOD THIS MONTH BUT MUCH LOWER THAN LAST MONTH)
FEB: 207.21 TONNES//EX FOR PHYSICAL ISSUANCE (WILL BE A FAIR SIZED ISSUANCE THIS MONTH)
MARCH 130.84 TONNES//QUITE SMALL THIS MONTH.
APRIL; 208.57 TONNES. STRONG THIS MONTH
MAY: 113.499 TONNES OF GOLD EFP ISSUANCE//QUITE SMALL THIS MONTH
JUNE: 97.79 TONNES OF GOLD EFP ISSUANCE/EXTREMELY SMALL
JULY : 150.877 TONNES// QUITE SMALL
AUGUST: 175.86 TONNES A LOT LARGER THIS MONTH.
SEPT. 116.13 TONNES VERY SMALL
OCT. 252.72 TONNES//CERTAINLY MUCH LARGER THIS MONTH/VERY STRONG
NOV: 124.74 TONNES
DEC: 190.04 TONNES//GOOD SIZED THIS MONTH FINAL.
TOTAL EXCHANGE FOR PHYSICAL ISSUED FOR YEAR 2025: 2,026.20 TONNES (LOWER THAN LAST YR 2,569.00 TONNES
JANUARY: 209.08 TONNES ( (WILL BE A STRONG MONTH FOR EXCHANGE FOR PHYSICAL)
FEB. 176.35 TONNES (WHICH IS A FAIR ISSUANCE)
MARCH: 214.67 TONNES//WILL BE STRONG ISSUANCE THIS MONTH
APRIL; 88.00 TONNES// WILL BE VERY SMALL THIS MONTH
MAY 118.430 TONNES
JUNE: 14.727
HERE IS A BRIEF SYNOPSIS OF HOW THE CROOKS FLEECE UNSUSPECTING LONGS
YOU WILL ALSO NOTICE THAT THE COMEX OPEN INTEREST STARTS TO RISE BUT SO IS THE OPEN INTEREST OF SPREADERS. THE OPEN INTEREST IN WILL CONTINUE TO RISE UNTIL ONE WEEK BEFORE FIRST DAY NOTICE OF AN UPCOMING ACTIVE DELIVERY MONTH (OCT), AND THAT IS WHEN THE CROOKS SELL THEIR SPREAD POSITIONS BUT NOT AT THE SAME TIME OF THE DAY. THEY WILL USE THE SELL SIDE OF THE EQUATION TO CREATE THE CASCADE (ALONG WITH THEIR COLLUSIVE FRIENDS) AND THEN COVER ON THE BUY SIDE OF THE SPREAD SITUATION AT THE END OF THE DAY. THEY DO THIS TO AVOID POSIT
WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS. ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM. IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE.
The crooks also use the spread in the TAS account (trade at settlement). They buy the spot TAS (e.g. June) and sell the future TAS two months out (e.g. August). Then they unload the front month (i.e. unload the buy side first so the price of gold/silver falls. This occurs in the middle of the front delivery month cycle. They unload the sell side of the equation, two months down the road. The crooks violate position limits as the OCC refuse to hear our complaints.
First, here is an outline of what will be discussed tonight:
SILVER:
1.TODAY WE HAD THE OPEN INTEREST AT THE COMEX IN SILVER FELL BY A HUGE 1529 CONTRACTS TO AN OI OF 100,031.
EFP ISSUANCE 400 CONTRACTS
OUR CUSTOMARY MIGRATION OF COMEX LONGS CONTINUE TO MORPH INTO LONDON FORWARDS AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE:
JULY 400 CONTRACTS and 0 ALL OTHER MONTHS: ZERO. TOTAL EFP ISSUANCE: 0 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON. IF WE TAKE THE COMEX OI LOSS OF 1466 CONTRACTS AND ADD TO THE 400 E.FP. ISSUED
WE OBTAIN A STRONG LOSS OF 1129 OI OPEN INTEREST CONTRACTS FROM OUR TWO EXCHANGES WITH OUR LOSS OF $0.03
THUS IN OUNCES, THE LOSS ON THE TWO EXCHANGES TOTALS 5.645 MILLION PAPER OZ
OCCURRED WITH OUR LOSS IN PRICE.OF $0.03
2.ASIAN AFFAIRS JUNE 1 /2025
SHANGHAI CLOSED DOWN 10.83 PTS OR 0.27%
HANG SENG CLOSED UP 188.11 PTS OR 0.75%
Nikkei CLOSED UP 598.50 PTS OR 0.90%
//Australia’s all ordinaries CLOSED UP 0.07%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7656
/ OFFSHORE CLOSED UP AT 6.7656 Oil DOWN TO 90.38 dollars per barrel for WTI and BRENT UP TO 93.97 Stocks in Europe OPENED ALL MOSTLY RED
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7656) OFFSHORE YUAN TRADING UP TO 6.7656 ONSHORE YUAN TRADING AT LEVEL OF OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
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1. COMEX DATA//AMOUNTS STANDING//VOLUME OF TRADING/INVENTORY MOVEMENTS
LET US BEGIN:
THE TOTAL COMEX GOLD OPEN INTEREST FELL BY A HUMONGOUS 20,605 CONTRACTS DOWN TO AN ALL TIME LOW OF 326,581 OI SURPASSING THE PREVIOUS ALL TIME LOW OF 345,705 SET (MAY 28) SURPASSING THE PREVIOUS ALL TIME LOW IN OI OF 353,490 SET MAY 27.. PREVIOUS TO THAT THE ALL TIME LOW IN OI WAS 390,000 SET IN THE YEAR 2001 WHEN GOLD WAS TRADING $260.00. THE CME SHOULD BE PROUD OF THEMSELVES AS MANY HAVE ABANDONED THIS CROOKED ARENA!!THUS OUR NEW ALL TIME LOW OF COMEX OI HAS NOW BEEN SET AT 326,581 WITH GOLD AT AN EXTREMELY HIGH $4,450.00 WHICH MAKES ABSOLUTELY NO SENSE!!!
WE HAD HUGE T.A.S. LIQUIDATION EARLY DURING FRIDAY’S OP =EX TRADING (OTC/LONDON OPTIONS EXPIRY TRADING). IT SEEMS THAT SOME OF THE SPECULATORS CONTINUED AGAIN TO GO MASSIVELY ON THE LONG SIDE BUT WITH THE BANKERS NOW TAKING THE LONG SIDE,AND CENTRAL BANKS SUPPLYING THE NECESSARY PAPER, AS WELL AS COVERING THEIR SHORTFALL. THERE ARE ALSO SOME SPECULATORS WHO CONTINUALLY GO TO THE SHORT SIDE AND AND OF COURSE THEY WILL BE ANNHILATED ON CENTRAL BANK COMMAND!!
CENTRAL BANKS ALSO TENDERED THEIR NEW LONG CONTRACTS AT THE END OF THE DAY FOR PHYSICAL GOLD. YOU CAN VISUALIZE THIS WITH THE STRONG AMOUNT OF GOLD STANDING AT THE COMEX FOR THIS MAY CONTRACT MONTH!!
THE HUGE SIZED LOSS ON OUR TWO EXCHANGES OCCURRED DESPITE OUR GAIN IN PRICE IN GOLD (UP $59.20).
WE THUS HAD A HUGE SIZED LOSS IN OI ON BOTH OF OUR EXCHANGES, THE COMEX AND LONDON’S EXCHANGE FOR PHYSICAL EQUATING TO 15,870 CONTRACTS (OR 49.362 TONNES) DESPITE OUR GAIN IN PRICE, AS WE WERE INFORMED OF A VERY STRONG CONTRACT EXCHANGE FOR PHYSICAL ISSUANCE, EQUATING TO 4735 CONTRACTS.
THEN WE WERE NOTIFIED TODAY OF A 0 CONTRACT FOR RISK ISSUANCE IN GOLD CONTRACTS FOR 0 OZ OR 0 TONNES OF GOLD. ON FRIDAY, BY FAR WE HAD THE HIGHEST EVER EXCHANGE FOR RISK EVER ISSUED AT ONE TIME BEATING THE PREVIOUS SINGLE HIGHEST ISSUE BY ONE TONNE. THUS MAY 22 RECORDS THE HIGHEST EVER EXCHANGE FOR RISK AT 12.4416 TONNES. WE HAD OUR FIRST ISSUANCE FOR EXCHANGE FOR RISK IN THE MONTH OF MAY ON MAY 7, THEN OUR 2ND ISSUANCE FOR OUR MAY GOLD MONTH ON MAY 12. THE THIRD ON MAY 18 , THEN MAY 21 OUR 4TH ISSUANCE AND THEN FINALLY FRIAY, OUR 5TH ISSUANCE. THIS GOLD WILL BE ADDED TO OUR NORMAL MAY DELIVERIES TO GIVE US OUR FINAL AMOUNT OF GOLD WILLING TO STAND AT THE COMEX..
HISTORY OF EXCHANGE FOR RISK ISSUANCE THIS YEAR: FEBRUARY THROUGH MAY
FEBRUARY:
DURING THE MIDDLE OF THE FEBRUARY CONTRACT MONTH, WE HAD TWO IDENTICAL MONSTER 3,000 CONTRACT ISSUED FOR THE SAME 9.33 TONNES OF GOLD, AND THESE WERE THE HIGHEST EVER IN TONNAGE EVER ISSUED BY THE COMEX. ALTOGETHER THE TOTAL ISSUANCE FOR FEB TOTALLED SIX.(31.251 TONNES).
MARCH:
THURSDAY MARCH 17 WE RECEIVED ITS INITIAL 2000 CONTRACT EXCHANGE FOR RISK ISSUANCE FOR 6.22 TONNES. LAST FRIDAY: 0 ISSUANCE OF EXCHANGE FOR RISK. BUT ON MONDAY MARCH 23 WE RECEIVED NOTICE OF OUR SECOND EXCHANGE FOR RISK ISSUANCE FOR 2,200 CONTRACTS (220,000 OZ OR 6.843 TONNES) AND NOW FRIDAY WITH A MONSTER 2996 CONTRACTS FOR 9.3138 TONNES. THESE THREE ISSUANCES WILL NOW BE ADDED TO THE REGULAR AMOUNT OF GOLD STANDING, I.E. 22.3818 TONNES TO OUR NORMAL GOLD STANDING TO GIVE US WHAT WILL STAND FOR PHYSICAL GOLD FOR MARCH!
APRIL;: 2 EXCHANGE FOR RISK SO FAR, I.E. 2239 CONTRACTS FOR 223,900 OZ OR 6.964 TONNES AND THIS TOTAL TONNES WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND IN APRIL
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS OR 792,000 OZ OR 24.635 TONNES.
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A LITTLE HISTORY OF EXCHANGE FOR RISK DECEMBER THROUGH TO MAY:
IN DECEMBER WE HAVE RECORDED 5 ISSUANCES OF EXCHANGE FOR RISK/4 FOR DEC AND THE LAST ONE ON DEC 31 FOR JANUARY. WE NOW HAVE 3 CHOICES FOR THE RECIPIENT OF THIS ISSUANCE AND IT MUST BE A CENTRAL BANK. YOU WILL RECALL THAT THE BUYER ASSUMES THE RISK OF THAT DELIVERY. (THUS TOTAL EXCHANGE FOR RISK FOR THE MONTH OF DECEMBER IS 6.56 TONNES/4 OCCASIONS.
MONTH OF JANUARY/EXCHANGE FOR RISK
IN JANUARY THEY HAVE 6 TOTAL ISSUANCE : 3.446 TONNES EARLY, THEN JAN 9 ISSUANCE OF 9,331 TONNES AND THEN JAN 16: 0.1996 TONNES JAN 26: 1.499 TONNES, JAN 27: 3.160 AND FINALLY JAN 29: 4.659 TONNES TONNES//TOTAL EXCHANGE FOR RISK JANUARY 22.315 TONNES WHICH WAS ADDED TO OUR NORMAL DELVERIES.
AND FEBRUARY:
FEB EXCHANGE FOR RISK: NOW 6 ISSUANCES: 10,080 CONTRACTS FOR 1,008,000 OZ OR 31.251 TONNES!
HERE ARE THE CHOICES FOR THE RECIPIENT OF THOSE ISSUANCES:
1 THE CENTRAL BANK OF ENGLAND. BUT THEY RECEIVED CLEARANCE THAT THEIR GOLD IS BACK SO IT IS NOT LIKELY THAT THEY WOULD LIKE TO ADD TO THEIR RESERVES.
2. THE CENTRAL BANK OF THE USA: THE FED. LOGICAL CHOICE AS THEY CLAMOUR TRYING TO REDUCE THEIR 106+ TONNES OF SHORTAGE. HOWEVER THEY SEEM NOT TO BE IN A HURRY TO COVER THEIR HUGE SHORTFALL
3. THE CENTRAL BANK OF CHINA AS THEY BATTLE WITS WITH THE USA.
TOTAL EXCHANGE FOR RISK FOR DECEMBER IS 6.56 TONNES AND THIS WAS ADDED TO OUR NORMAL DELIVERY TOTALS..
THE JANUARY ISSUANCE OF 17.656 TONNES WAS ADDED TO OUR DAILY DELIVERY TOTALS!!
FEBRUARY ISSUANCES 6 FOR; 31.251 TONNES !! AND THIS WAS ADDED TO OUR DELIVERY TOTALS FOR THIS MONTH.
MARCH: CME ANNOUNCES ITS FIRST EXCHANGE FOR RISK FOR 2000 CONTRACTS FOR 200,000 OZ OR 6.22 TONNES OF GOLD DURING THE FIRST WEEK OF MARCH, AND THEN MONDAY, MARCH 22, WE RECEIVED ITS SECOND NOTICE ISSUANCE OF 2200 CONTRACTS OR 220000 OZ (6.843 TONNES). THEN FINALLY WE RECEIVED NOTICE OF OUR THIRD EXCHANGE FOR RISK OF 2996 CONTRACTS OR 9.3188 TONNES. TOGETHER ALL 3 ISSUANCES TOTAL 22.3818 TONNES WHICH WILL BE ADDED TO OUR NORMAL DELIVERY SCHEDULE.
APRIL: 2 EXCHANGE FOR RISK SO FAR FOR 223,900 OZ OR 6.964 TONNES. AND THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERY TO GIVE US WHAT WILL STAND FOR APRIL!!
MAY: FIVE ISSUANCES SO FAR FOR 7920 CONTRACTS, 792,000 OZ OR 24.635 TONNES OF GOLD. THIS TOTAL WILL BE ADDED TO OUR NORMAL DELIVERIES IN MAY TO GIVE US WHAT WILL STAND IN MAY.
JUNE: ZERO SO FAR
DETAILS ON OUR NEW JUNE COMEX CONTRACT MONTH//
IN TOTAL WE HAD A VERY STRONG LOSS ON OUR TWO EXCHANGES OF 15,870 CONTRACTS DESPITE OUR GAIN IN PRICE ($52.00). HOWEVER, OUR FRIENDLY PHYSICAL LONDON BOYS HAD ANOTHER FIELD DAY AGAIN THROUGHOUT THIS WEEK AS THEY WERE READY FOR THE FRBNY.S CONTINUED ORCHESTRATED ATTACKS VERY EARLY IN THE COMEX SESSIONS AS THEY TRIED TO ABSORB EVERYTHING IN SIGHT FROM THEIR DAILY ATTACKS. LONDONERS EXERCISED THEIR BOUGHT CONTRACTS FOR PHYSICAL GOLD VIA THE EXCHANGE FOR PHYSICAL ROUTE AND THANKED THE FRBNY AND OUR SHORT SPECULATORS FOR THEIR THOUGHTFULNESS.
LONDON ANNOUNCED EARLY IN THE YEAR (AND SCARCITY CONTINUES TO THIS DAY) THAT THEY WERE OUT OF GOLD. WRONGLY IT WAS ATTRIBUTED TO THEIR SHIPPING PHYSICAL GOLD TO COMEX FOR STORAGE DUE TO TRUMP’S INITIATION OF TARIFFS. THE TRUTH OF THE MATTER IS THAT THIS GOLD LEFT LONDON TO OTHER CENTRAL BANKS, AND COMEX BANKS HAVE BEEN PAPERING THEIR LOSSES (DERIVATIVE) WITH KILOBAR ENTRIES. BOTH COMEX AND LBMA ARE WITNESSING MASSIVE AMOUNTS OF GOLD LEAVING THEIR VAULTS.
THE LIQUIDATION OF T.A.S. CONTRACTS THROUGHOUT THE MONTHS OF JUNE THROUGH MAY/ CONTINUES TO DISTORT OPEN INTEREST NUMBERS GREATLY ALTHOUGH THE T.A.S. ISSUANCES IN GOLD HAVE GENERALLY BEEN ON THE LOW SIDE COMPARED TO SILVER WHICH HAVE BEEN HUGE. TODAY’S NUMBER HOWEVER IS A FAIR SIZED T.A.S ISSUANCE CONTRACTS .THE CME NOTIFIES US THAT THEY HAVE ISSUED 1373 T.A.S CONTRACTS. THESE ARE GENERALLY USED FOR RAID PURPOSES TO STOP GOLD’S RISE AND TO TEMPER HUGE LOSSES IN OTC DERIVATIVE BETS
IT SURE LOOKS LIKE THE BIS HAS SOMEHOW LOOKED THE OTHER WAY WITH ITS GOLD SWAPS WITH THE FRBNY AS THIS ENTITY FOR THE FED REFUSES THE BIS MARCHING ORDERS TO COVER AND THAT MAY EXPLAIN THE STRONG NUMBER OF T.A.S. ISSUANCES IN DECEMBER , JANUARY AND THROUGHOUT FEBRUARY TO GO ALONG WITH OUR HUGE NUMBER OF EXCHANGE FOR RISK ISSUED DURING THESE MONTHS INCLUDING FEBRUARY’S 6 EXCHANGE FOR RISK WHICH ALSO INCLUDED TWO MONSTER 9.3312 TONNE ISSUANCE (FEB 10 AND FEB 12). TOTAL EXCHANGE FOR RISK/FEB EQUALS 31.251 TONNES!! AND MARCH’S THREE ISSUANCES FOR 22.3818 TONNES! OTHER CENTRAL BANKS ARE PAYING ATTENTION AS THEY TAKE DELIVERY OF HUGE AMOUNTS OF PHYSICAL GOLD. APRIL HAD 2 EXCHANGE FOR RISK ISSUANCES FOR 6.694 TONNES. AND NOW MAY WITH ITS 5TH ISSUANCE FOR 12.4436 TONNES///TOTAL EXCHANGE FOR RISK FOR MAY: 24.635 TONNES ISSUED MAY 6 ,MAY 12, MAY 18 MAY 21 AND NOW MAY 22..
WE MUST ALSO REMEMBER THAT THE FRBNY IS SHORT 106+ TONNES OF GOLD, THIS COMMENCED ON JAN 2 2023 AS THEY REFUSE TO COVER DESPITE THE BIS’S PLEA TO DO SO. WE WILL KNOW IN JUNE WHETHER THEY COVERED ANY OF THEIR SHORTFALL.
HERE IS A SUMMARY OF GOLD STANDING FOR DELIVERY ON OUR LAST 12 MONTHS:
1.APRIL AT 209 TONNES
2. AND THIS CONTINUED INTO MAY WITH FINAL STANDING AT 90.23 TONNES.
3. JUNE WHICH IS A HUGE DELIVERY MONTH , FINAL STANDING WAS RECORDED AT A STRONG 93.085 TONNES. //(TOTAL NET QUEUE JUMPING FOR THE JUNE MONTH: 31.027 TONNES.)
4. IN JULY WE HAD HUGE DELIVERY NOTICES ESPECIALLY FOR A NON ACTIVE DELIVERY MONTH WITH INITIAL STANDING AT 17.947 TONNES PLUS MANY QUEUE JUMPS + 3.75 TONNES EX FOR RISK = 41.106 TONNES OF GOLD // FINAL TOTAL TONNES STANDING JULY: 41.106 TONNES
5. FOR THE MONTH OF AUGUST:
INITIAL AMOUNT OF GOLD STANDING FOR AUGUST: 60.547 TONNES PLUS THE MONTHS HUGE QUEUE JUMPS OF 47.2312 TONNES +44.696 TONNES EX FOR RISK (7 ISSUANCES) //NEW STANDING 152.208 TONNES WHICH IS MONSTROUS!!!
6. FINAL AMOUNT OF GOLD STANDING FOR SEPT; INITIAL STANDING; 2,602 CONTRACTS OR 260,200 OZ FOR 8.093 TONNES OF GOLD FOLLOWED BY TODAY’S 0.4883 TONNES QUEUE JUMP TO GO ALONG WITH TODAY’S 1.244 TONNES OF EXCHANGE FOR RISK ISSUANCE TODAY AND // TOTAL EXCHANGE FOR RISK ISSUANCE SEPT: 22.923 TONNES//NEW TOTALS STANDING ADVANCES TO 48.801 TONNES OF GOLD!!!
7. OCTOBER:
OCTOBER: INITIAL STANDING FOR GOLD: 90.164 TONNES TO WHICH WE ADD OUR LATEST OCT 30 QUEUE JUMP OF 0.00311 TONNES WHICH FOLLOWS OCT 29 QUEUE JUMP OF .4096 WHICH FOLLOWS; OCT 28 QUEUE JUMP OF .5069 TONNES WHICH FOLLOWS OCT 27 OF 0.3048 TONNES WHICH FOLLOWS: OCT 24 OF 0.8615 TONNES, FOLLOWING OCT 23 QUEUE JUMP OF 1.695 TONNES OCT 22 JUMP OF 8.622 TONNES WHICH FOLLOWS OCT 21: 3.8600 TONNES TO OCT 20 QUEUE JUMP OF 7.695 TONNE
SUMMARY FOR OCTOBER STANDING:
NOVEMBER WHERE INITIAL AMOUNT OF GOLD STANDING IS REGISTERED AT 15.651 TONNES OF GOLD FOLLOWED BY TODAY’S QUEUE JUMP OF 2 TONNES AND FOLLOWED BY ALL OTHER NOV QUEUE JUMPS OF 21.3775 TONNES TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCE FOR 4.5596 TONNES.
/STANDING ADVANCES TO 43.9716 TONNES OF GOLD.
DECEMBER: INITIAL AMOUNT OF GOLD STANDING FOR DELIVERY IN THIS ACTIVE MONTH IS 83.813 TONNES FOLLOWED BY TODAY’S 0.05 TONNES QUEUE JUMP. THIS FOLLOWS ALL OTHER QUEUE JUMPING: 37.163 TONNES//NEW STANDING ADVANCES TO 115.390 TONNES TO WHICH WE ADD OUR FOUR EXCHANGE FOR RISK ISSUANCE OF 6.559 TONNES//NEW STANDING THUS INCREASES TO 121.977 TONNES
JANUARY: INITITAL STANDING: 13.785 TONNES TO WHICH WE ADD OUR QUEUE JUMP OF 0.000 TONNES WHICH FOLLOWS ALL OTHER QUEUE JUMPS OF 30.7117TONNES //NEW TOTAL QUEUE JUMPS 30.7117//NORMAL DELIVERY OF GOLD ADVANCES TO 36.8958 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 22.315 TONNES//NEW STANDING ADVANCES TO 59.2108 TONNES.
FEBRUARY: . FEBRUARY: INITIAL STANDING: 93.566 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.0248 TONNES WHICH MUST BE ADDED ALL OTHER QUEUE JUMPS OF 41.2087 TONNES QUEUE JUMP//TOTAL QUEUE JUMP FOR FEB::ADVANCES TO 41.233 TONNES///STANDING ADVANCES TO 126.628 TONNES TO WHICH WE ADD OUR SIX EXCHANGE FOR RISK OF 31.251 TONNES/NEW STANDING RISES TO 157.879 TONNES
MARCH: INITIAL STANDING FOR GOLD: 8.099 TONNES TO WHICH WE ADD OUR NEXT QUEUE JUMP OF 0.2320 TONNES AND THEN WE ADD OUR THREE EXCHANGE FOR RISK OF 22.3818 TONNES////NEW STANDING FOR GOLD ADVANCES TO: 67.6648TONNES WHICH IS ABSOLUTELY HUGE FOR A NON ACTIVE DELIVERY MONTH!!
APRIL 2026: INITIAL STANDING FOR GOLD: 52.20 TONNES FOLLOWED BY TODAY’S SMALL 500 OZ QUEUE JUMP/ TO WHICH WE ADD OUR TWO EXCHANGE FOR RISK ISSUANCES TOTALLING 223,900 OZ OR 6.964 TONNES//STANDING ADVANCES TO 77.726 TONNES WHICH IS ABSOLUTELY HUGE
MAY: INITIAL AMOUNT OF GOLD WILLING TO STAND: 12.24 TONNES OF GOLD TO WHICH WE ADD OUR NEXT HUGE QUEUE JUMP OF 34,500 OZ (1.073 TONNES) TO WHICH WE ADD OUR FIVE EXCHANGE FOR RISK ISSUANCE FOR 792,000 OZ OR 24.635 TONNES////NEW TOTALS STANDING FOR GOLD ADVANCES TO 51.554 TONNESS
JUNE: INITIAL AMOUNT OF GOLD WILLING TO STAND: 64.496 TONNES (CME CORRECTED) TO WHICH WE ADD OUR MASSIVE 15.696 TONNES OF A QUEUE JUMP EQUALS 80.814 TONNES//
HERE ARE THE AMOUNTS THAT STOOD FOR DELIVERY IN THE PRECEDING 48 MONTHS 2021-2024
DEC 2021: 112.217 TONNES
NOV. 8.074 TONNES
OCT. 57.707 TONNES
SEPT: 11.9160 TONNES
AUGUST: 80.489 TONNES
JULY 7.2814 TONNES
JUNE: 72.289 TONNES
MAY 5.77 TONNES
APRIL 95.331 TONNES
MARCH 30.205 TONNES
FEB ’21. 113.424 TONNES
JAN ’21: 6.500 TONNES.
TOTAL YEAR 2021 (JAN- DEC): 601.213 TONNES
YEAR 2022: STANDING FOR GOLD/COMEX
JANUARY 2022 17.79 TONNES
FEB 2022: 59.023 TONNES
MARCH: 36.678 TONNES
APRIL: 85.340 TONNES FINAL.
MAY: 20.11 TONNES FINAL
JUNE: 74.933 TONNES FINAL
JULY 29.987 TONNES FINAL
AUGUST:104.979 TONNES//FINAL
SEPT. 38.1158 TONNES
OCT: 77.390 TONNES/ FINAL
NOV 27.110 TONNES/FINAL
Dec. 64.000 tonnes
(TOTAL YEAR 656.076 TONNES)
JAN/2023: 20.559 tonnes
FEB 2023: 47.744 tonnes
MAR: 19.0637 TONNES
APRIL: 75.676 tonnes
MAY: 19.094 TONNES + 1.244 tonnes of exchange for risk = 20.338
JUNE: 64.354 TONNES
JULY: 10.2861 TONNES
AUGUST: 38.855 TONNES(INCLUDING .6842 EXCHANGE FOR RISK)
SEPT: 15.281 TONNES FINAL
OCT. 35.869 TONNES + 1.665 EXCHANGE FOR RISK =37.0355 tonnes
NOV: 18.7122 TONNES + 16.2505 EX. FOR RISK = 34.9627 TONNES
DEC. 47.073 + 4.634 TONNES OF EXCHANGE FOR RISK = 51.707 TONNES
TOTAL 2023 YEAR : 436.546 TONNES
2024/STANDING FOR GOLD/COMEX
JAN ’24. 22.706 TONNES
FEB. ’24: 66.276 TONNES (INCLUDES 1.723 TONNES EX. FOR RISK)
MARCH: 18.8398 TONNES + 1.1695 EX FOR RISK = 20.093 TONNES
APRIL: 2024: 53.673TONNES FINAL
MAY/ 2024 8.5536 TONNES + 3.3716 TONNES EX FOR RISK/= 11.9325
JUNE; 95.578 TONNES. + 1.045 TONNES EXCHANGE FOR RISK =96.623 THIS IS THE HIGHEST RECORDED GOLD STANDING SINCE AUGUST 2022
JULY: 11.692 TONNES
AUGUST 69.602 TONNES//FINAL STANDING
SEPT. 13.164 TONNES.
OCT 39.474 TONNES + + 20.917 TONNES EXCHANGE FOR RISK =60.391 TONNES
NOV . 11.265 TONNES +4.665 TONNES EXCHANGE FOR RISK/TUESDAY + 3.11 TONNES OF EX. FOR RISK/PRIOR = 19.0425 TONNES
DEC: 80.4230 TONNES PLUS DEC MONTH EXCHANGE FOR RISK TOTAL 14.6836 TONNES EQUALS 95.1066 TONNES
total year 2024: 540.30 tonnes
COMEX GOLD TRADING BEGINNING JUNE,. CONTRACT;
THE SPECS/HFT WERE UNSUCCESSFUL IN LOWERING GOLD’S PRICE( IT ROSE BY $59.20)
WE HAD HUGE T.A.S. SPREADER LIQUIDATION FRIDAY // COMEX SESSION// WITH OUR GAIN IN PRICE , OUR LONG SPECULATORS STILL REMAIN RELENTLESS POURING INTO THE COMEX
OTHER EASTERN CENTRAL BANKS TENDERED FOR PHYSICAL EVERY NIGHT WHICH ALSO EXPLAINS THE HUGE NUMBER OF TONNES OF GOLD THAT STOOD FOR GOLD DURING THESE PAST SEVERAL MONTHS
FRIDAY NIGHT//SATURDAY MORNING
THE CROOKS COULD NOT STOP OTHER CENTRAL BANK LONGS, SEIZING THE MOMENT, THEY EXERCISED AGAIN FOR PHYSICAL IN A BIG WAY TENDERING FOR PHYSICAL FRIDAY EVENING SATURDAY MORNING AND THUS OUR HUGE NUMBER OF GOLD CONTRACTS STANDING FOR DELIVERY AT THE COMEX. CENTRAL BANKERS WAIT PATIENTLY FOR THE GOLD
ALL OF THIS WAS ACCOMPLISHED WITH OUR GAIN IN PRICE TO THE TUNE OF $59.20
WE HAD A STRONG 2031 CONTRACTS REMOVED FROM THE COMEX TRADES TO OPEN INTEREST (CROOKS)//PRELIMINARY TO FINAL.
NET loss ON THE TWO EXCHANGES : 15,870 CONTRACTS OR 1,587,000 OZ OR 49.362 TONNES
MAY DELIVERY MONTH
JUNE 1
| Gold | Ounces |
| Withdrawals from Dealers Inventory in oz | nil |
| Withdrawals from Customer Inventory in oz | ENTRIES; 0 |
| Deposit to the Dealer Inventory in oz | 0 ENTRY |
| Deposits to the Customer Inventory, in oz | DEPOSITS/CUSTOMER 0 ENTRY xxxxxxxxxxxxxxxx |
| No of oz served (contracts) today | 874 CONTRACTS OR 87,400 OZ 2.7185 TONNES OF GOLD |
| No of oz to be served (notices) | 1488 Contracts 148,800 OZ 4.628TONNES |
| Total monthly oz gold served (contracts) so far this month | 24,494 notices 2,449,400 oz 76.186 TONNES * CME CORRECTED |
| Total accumulative withdrawals of gold from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of gold from the Customer inventory this month |
dealer deposits: 0
0 ENTRY
DEPOSITS/CUSTOMER
ENTRY: 0
xxxxxxxxxxxxxxxxxx
comex withdrawal
ENTRIES; 0
ONE CUSTOMER WITHDRAWAL ENTRIES
ENTRIES; 0
adjustments: 3
Asahi: 3858.120 oz dealer to customer account
Brinks 26,700.330 oz dealer to customer account
Manfra: 488.539 oz dealer to customer account
COMEX IS DRAINING GOLD
chaos inside the comex
THE FRONT MONTH OF JUNE OI STANDS AT 2362 CONTRACTS HAVING A LOSS OF 18,574 CONTRACTS.
WE HAD 23,620 CONTRACTS SERVED ON FRIDAY, SO WE GAINED A MASSIVE 5,046 CONTRACTS FOR 504,600 OZ. (15.676 TONNES). THIS IS THE HIGHEST EVER QUEUE JUMP IN COMEX RECORDED HISTORY. HOWEVER TOTALS HAVE BEEN CME CORRECTED.
JULY GAINED 571 CONTRACTS UP TO 3261 CONTRACTS.
AUGUST GAINED 1432 CONTRACTS UP TO AN OI OF 262,840
.
We had 874 contracts filed for today representing 87,400oz
Today, 0 notice(s) were issued from J.P.Morgan dealer and 0 notices issued from their client or customer account. The total of all issuance by all participants equate to 874 contract(s) of which 0 notices were stopped (received) by j.P. Morgan dealer and 134 notice(s) was (were) stopped (received) by J.P.Morgan//customer account
To calculate the INITIAL total number of gold ounces standing for JUNE. /2026. contract month, we take the total number of notices filed so far for the month (24,494) to which we add the difference between the open interest for the front month of JUNE 2362 CONTRACTS) minus the number of notices served upon today 874 x 100 oz per contract) equals 2,598,200 OZ OR (80.814Tonnes of gold)
THUS: INITIAL total number of gold ounces standing for JUNE. /2026. contract month, we take the total number of notices filed so far for the month (24,494) to which we add the difference between the open interest for the front month of JUNE( 2362 CONTRACTS) minus the number of notices served upon today 874 x 100 oz per contract) equals 2,598,200 OZ OR (80.814 Tonnes of gold)
new total of gold standing in JUNE becomes 80.894 TONNES//
TOTAL COMEX GOLD STANDING FOR JUNE 80.894 TONNES TONNES WHICH IS NOW REALLY HUGE FOR THIS ACTIVE DELIVERY MONTH OF JUNE.
confirmed volume FRIDAY confirmed 148,,446// extremely poor// many have left the arena
COMEX GOLD INVENTORIES/CLASSIFICATION
NEW PLEDGED GOLD:
241,794.285 oz NOW PLEDGED /HSBC 5.94 TONNES
204,937.290 OZ PLEDGED MANFRA 3.08 TONNES
83,657.582 PLEDGED JPMorgan no 1 1.690 tonnes
265,999.054, oz JPM No 2
1,152,376.639 oz pledged Brinks/
Manfra: 33,758.550 oz
Delaware: 193.721 oz
International Delaware:: 11,188.542 oz
total pledged gold: 1,920,739.186 oz 59.74 tonnes pledged gold lowers
total inventories in gold declining rapidly
total pledged gold: 1,920,739.186 tonnes oz 59.74 tonnes
TOTAL OF ALL GOLD ELIGIBLE AND REGISTERED GOLD 28,282,868.635oz
TOTAL REGISTERED GOLD 15,485,899.615 tonnes (481.676 tonnes)
TOTAL OF ALL ELIGIBLE GOLD 12,796,965.028 oz//eligible gold leaving hand over fist
REGISTERED GOLD THAT CAN BE SERVED UPON 13,565,160 oz ((REG GOLD- PLEDGED GOLD)=
421.933 Tonnes //
total inventories in gold declining rapidly
SILVER COMEX
JUNE DELIVERY MONTH
JUNE 1
JUNE DELIVERY MONTH
| Silver | Ounces |
| Withdrawals from Dealers Inventory | NIL oz |
| Withdrawals from Customer Inventory | 0 ENTRIES |
| Deposits to the Dealer Inventory | 1 entries i) Into the dealer CNT 624,556.030 oz total deposit 624,556.030 oz |
| Deposits to the Customer Inventory | DEPOSIT ENTRIES/CUSTOMER ACCOUNT DEPOSIT ENTRIES/CUSTOMER ACCOUNT 1 ENTRIES i) Into International Delaware 86,675.847 oz total deposit 86,675.847 oz |
| No of oz served today (contracts) | 150 CONTRACT(S) (0.750 MILLION OZ OZ |
| No of oz to be served (notices) | 348 Contract (1.740 MILLIONoz) |
| Total monthly oz silver served (contracts) | 1543 contracts 9.215 MILLION oz |
| Total accumulative withdrawal of silver from the Dealers inventory this month | NIL oz |
| Total accumulative withdrawal of silver from the Customer inventory this month |
DEPOSITS INTO DEALER ACCOUNTS
1 entries
i) Into the dealer CNT 624,556.030 oz
total deposit 624,556.030 oz
DEPOSIT ENTRIES/CUSTOMER ACCOUNT
1 ENTRIES
i) Into International Delaware 86,675.847 oz
total deposit 86,675.847 oz
xxxxxxxxxxxxxxxxxxxxxxxxx
withdrawals: customer side/eligible
0 ENTRIES
adjustments 1 customer to dealer
i) Asahi: 166.203 oz totally removed
ii) CNT 271,571.540 oz (customer to dealer account)
xxxxxxxxxxxxxx
TOTAL REGISTERED SILVER: 84.976 MILLION OZ//.TOTAL REG + ELIGIBLE. 317,200 Million oz
registered silver dropping in numbers
CALCULATIONS FOR THE NEW STANDING FOR SILVER FOR MAY
silver open interest data:
FRONT MONTH OF JUNE /2026 OI: 498 OPEN INTEREST CONTRACTS FOR A LOSS OF 1649 CONTRACTS.
WE HAD 1653 NOTICES SERVED ON FRIDAY SO WE GAINED A SLIGHT 4 CONTRACTS OR AN ADDITIONAL 20,000 OZ WILL STAND AS A QUEUE JUMP AT THE SILVER COMEX.
JULY SAW A LOSS OF 427 CONTRACTS DOWN TO 71,030 CONTRACTS.
AUGUST SAW A LOSS OF 7 CONTRACTS DOWN TO 685…
J
TOTAL NUMBER OF NOTICES FILED FOR TODAY: 150 or 0.760 MILLION oz
CONFIRMED volume FRIDAY; 42,117// poor volume
XXX
AND NOW JUNE. DELIVERIES:
To calculate the number of silver ounces that will stand for delivery in JUNE. we take the total number of notices filed for the month so far at 1843 X5,000 oz = 9.215 MILLION oz
to which we add the difference between the open interest for the front month of JUNE( 498) AND the number of notices served upon today (150 )x (5000 oz)
Thus the standings for silver for the JUNE 2026 contract month: (1843 )Notices served so far) x 5000 oz + OI for the front month of JUNE (498) minus number of notices served upon today (150)x 5000 oz equals silver standing for the JUNE..contract month equating to 10.955 MILLION OZ.+ (TOTALS ALSO CME CORRECTED FROM FRIDAY)
We must also keep in mind that there is considerable silver standing in London coming from our longs
There are ONLY 84.076 million oz of registered silver
JPMorgan as a percentage of total silver: 140.287/317.287 million: 44.14
The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price on that day at $18.42.
The previous record was 224,540 contracts with the price at that time of $20.44.
BOTH GLD AND SLV ARE MASSIVE FRAUD
JUNE 1 /2026/WITH GOLD DOWN $79.30 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1032.568 TONNES
MAY 29 /2026/WITH GOLD UP $59.20 TODAY/HUGE CHANGES IN GOLD AT THE GLD: A WITHDRAWAL OF 2.285 TONNES OF GOLD FROM THE GLD ./ //:/INVENTORY RESTS AT 1032.568 TONNES
MAY 28 /2026/WITH GOLD UP $52.00 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 27 /2026/WITH GOLD DOWN $51.00 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 26 /2026/WITH GOLD DOWN $25.45 TODAY/HUGE CHANGES IN GOLD AT THE GLD:A WITHDRAWAL OF 1.9988 TONNES OUT OF THE GLD ./ //:/INVENTORY RESTS AT 1034.853 TONNES
MAY 22 /2026/WITH GOLD DOWN $13.45 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1036.851 TONNES
MAY 21 /2026/WITH GOLD UP $7.60 TODAY/NO CHANGES IN GOLD AT THE GLD: ./ //:/INVENTORY RESTS AT 1036.851 TONNES
GLD INVENTORY: 1032.568 TONNES, TONIGHTS TOTAL GOLD INVENTORY
SILVER
JUNE 1 WITH SILVER DOWN $0.52: HUGE CHANGES IN SILVER INVENTORY AT THE SLVA WITHDRAWAL OF 1.9 MILLION OZ FORM THE SLV/./ // :INVENTORY RESTS AT 486.077 MILLION OZ
MAY 29 WITH SILVER DOWN $0.03: NO CHANGES IN SILVER INVENTORY AT THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 28 WITH SILVER UP $1.02: NO CHANGES IN SILVER INVENTORY AT THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 27 WITH SILVER DOWN $1.61: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 1.176 MILLION OZ OUT OF THE SLV/ // :INVENTORY RESTS AT 487.977 MILLION OZ
MAY 26 WITH SILVER DOWN $0.14: HUGE CHANGES IN SILVER INVENTORY AT THE SLV: A DEPOSIT OF 1.131 OF 0.315 MILLION OZ INTO THE SLV/ // :INVENTORY RESTS AT 489.153 MILLION OZ
MAY 22 WITH SILVER DOWN $0.26: SMALL CHANGES IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 0.315 MILLION OZ FROM THE SLV/ // :INVENTORY RESTS AT 488.022 MILLION OZ
MAY 21 WITH SILVER UP $0.64: NO CHANGES IN SILVER INVENTORY AT THE SLV:/ // :INVENTORY RESTS AT 488.338 MILLION OZ
CLOSING INVENTORY 486.077 MILLION OZ OF SILVER
GOLD COMMENTARIES:
1.PETER SCHIFF
2. MATHEW PIEPENBERG/EGON VON GREYERZ
ALASDAIR MACLEOD..
The end of Pax Americana
Post-WW2 relative stability policed by the US and its dollar is at an end. A new world order is emerging without the fiat dollar and the monetary system that defers to it.
The Thucydides Trap
A geopolitical change such as the one currently evolving before our eyes is rarely without conflict. The tectonic clash between America and emerging Asian powers acting in partnership is such an event. Aptly described as a Thucydides Trap, the battles in Ukraine and Iran echo how the rise of Athens instilled irrational fears in Sparta leading to the Peloponnesian Wars, which Sparta lost. If it was not so, today the Ukrainians would not be being butchered, and nor arguably would the crisis in what we call the Middle East but the Asians call West Asia have descended into a major conflict against Iran.
In the former, like the Spartans the Europeans are fearful of Russia’s territorial ambitions. But the issue is far larger than that due to her partnership with China, which is now the most productive and powerful economy on earth. And the Israelis, whose recent heritage is European, are fighting a similar battle against Asian Muslim forces, and now specifically Iran, which is in partnership with Russia and China.
The fight is against a new emerging world order. Militarily, the Asians have evolved their technologies and strategies to cope with the threats of today, while America and NATO have been stuck in the past, their forces unsuited for modern warfare. If Thucydides was alive today along with Pyrrhus of Epirus, he of the Pyrrhic victory, there would be little doubt about what they would say about the current situation.
Without their guidance we can make two observations. The first is that the old order will be replaced with the new, and the second is that the intervening struggle is not over, but with the US, Israeli, and NATO reserves of armaments running out, it may be over soon — perhaps in a matter of months.
Death of Empire, death of the dollar
The end of Pax Americana has serious implications for those who grew wealthy under its aegis. Except for the super-rich, in recent decades much of their wealth is illusory, set against the collapsing purchasing power of the unit of account.
Since the dollar was fixed and exchangeable between nations at $35 to an ounce of gold, it has lost 99.2% of its value, a fact which goes almost entirely unnoticed. It requires a compensating increase in value of 130 times in dollar-denominated assets just to break even.
The end of empire is bringing with it an inevitable acceleration in the dollar’s decline. It is owned in enormous quantities around the world on the assumption that Pax Americana continues. While a few independent commentators can make out the big picture obscured by the fog of the two wars, the consequences of their inevitable outcomes are far from being reflected in western capital markets, the fiat dollar, and its attendant currencies.
According to the US Treasury, there are over $44 trillion and underlying financial assets held in foreign hands. But this does not include offshore eurodollars amounting to an additional $15 trillion, and a further $10 trillion tied up in daily FX transactions. That’s a total of $69 trillion in foreign hands, more than double US annual GDP, and three and a half times total US bank credit.
Clearly, even a minor encashment of these dollars will have a massive negative impact on its value. But the ending of America’s global hegemony will have a far greater shock, because the need for dollars and the assumptions about its future value will change radically. The timing of this inevitable catastrophe is now being determined by the outcome of the two wars.
Russia’s government is now under pressure to finish off the special military operation against Ukraine, with some influential analysts recommending the deployment of tactical nuclear weapons to drum some sense into European politicians’ heads. In Iran, Israel, and America are trapped, with Israel now fearful for her very existence, and the American public now realises that their deranged president has bitten off more than he can chew.
Without doubt, the West’s forces led by America are already defeated, which will become increasingly obvious in the coming months. The dollar is unlikely to await the formal revelation of defeat. Not only will the fiat dollar’s decline accelerate, but it will take down the entire fiat currency system. And it promises to be a rapid event.
With the other G7 currencies facing a similar fate, the only refuge is in real legal money which is physical gold and silver not stored in the custody of the fiat-driven banking system. The prices of these precious metals are not an issue; the issue is the fate of the fiat dollar.
3. CHRIS POWELL AND HIS GATA DISPATCHES
4.ANDREW MAGUIRE LIVE FROM THE VAULT 274 and 273
MUST VIEWl ANDREW’S NEWEST PODCAST
5. COMMODITY REPORT//SILVER
Amazing Amount Of Silver Coins Lost
by SRSrocco
Saturday, May 30, 2026 – 10:31
By the SRSroccoReport,
It’s amazing how much Monetary silver has been lost forever, in ancient, medieval, and Modern Times. This is why it is important to invest in silver as a Store of Value, rather than use it as a physical currency and trade.
Check back for new articles and updates at the SRSrocco Report.
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
SHANGHAI CLOSED DOWN 10.83 PTS OR 0.27%
HANG SENG CLOSED UP 188.11 PTS OR 0.75%
Nikkei CLOSED UP 598.50 PTS OR 0.90%
//Australia’s all ordinaries CLOSED UP 0.07%
//Chinese yuan (ONSHORE) CLOSED UP TO 6.7656
/ OFFSHORE CLOSED UP AT 6.7656 Oil DOWN TO 90.38 dollars per barrel for WTI and BRENT UP TO 93.97 Stocks in Europe OPENED ALL MOSTLY RED
ONSHORE USA/ YUAN// WITH YUAN TRADING UP (6.7656) OFFSHORE YUAN TRADING UP TO 6.7656 ONSHORE YUAN TRADING AT LEVEL OF OFF SHORE AND UP ON THE DOLLAR// / AND THUS STRONGER/OFF SHORE YUAN TRADING UP AGAINST US DOLLAR/ AND THUS STRONGER
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
YOUR EARLY CURRENCY VALUES/GOLD AND SILVER PRICING/ASIAN AND EUROPEAN BOURSE MOVEMENTS/AND INTEREST RATE SETTINGS MONDAY MORNING.7:30 AM
ONSHORE YUAN: CLOSED UP 6.7656
OFFSHORE YUAN: UP TO 6.7656
1.HANG SANG CLOSED UP 188.11 PTS OR 0.75%
2. Nikkei closed UP 598.50 PTS OR 0.90%
WEST TEXAS INTERMEDIATE OIL DOWN TO 90.38
BRENT; 93.97
3. Europe stocks SO FAR: ALL MOSTLY RED
USA dollar INDEX UP TO 98.99/// EURO FALLS TO 1.1654 UP 2 BASIS PTS
3b Japan 10 YR bond yield:RISES TO. +2.675 DOWN 4 FULL BASIS PTS/ VERY TROUBLESOME//Japan buying 100% of bond issuance)/Japanese YEN vs USA cross now at 159.47… JAPANESE YEN NOW FALLING AS WE HAVE NOW REACHED THE ENDING OF THE YEN CARRY TRADE AGAIN AND THE REPATRIATION OF YEN DENOMINATED BONDS TRADING IN THE USA/EUROPE. JAPAN 30 YR BOND YIELD: 3.928 DOWN 4 FULL BASIS PTS
3c Nikkei now ABOVE 17,000
3d USA/Yen rate now well ABOVE the important 120 barrier this morning
3e Gold UP /JAPANESE Yen UP CHINESE ONSHORE YUAN: UP( 6.7656 AND OFFSHORE: UP AT 6.7656
3f Japan is to buy INFINITE TRILLION YEN worth of BONDS. Japan’s GDP equals 5 trillion USA
Japan to buy 100% of all new Japanese debt and NOW they will have OVER 50% of all Japanese debt.
3g Oil UP for WTI and BRENT UP this morning
3h European bond buying continues to push yields HIGHER on all fronts in the EMU. German 10yr bund YIELD DOWN TO +2.9792// Italian 10 Yr bond yield UP to 3.711// SPAIN 10 YR BOND YIELD UP TO 3.395%
3i Greek 10 year bond yield UP TO 3.638%
3j Gold at $4500 //Silver at: 75.58 1 am est) SILVER NEXT RESISTANCE LEVEL AT $100.00
3k USA vs Russian rouble;// Russian rouble DOWN 0 AND 81/ 100 roubles/71.81
3m oil (WTI) into the 90 dollar handle for WTI and 93 handle for Brent/
3n Higher foreign deposits moving out of China// huge risk of outflows and a currency depreciation. This can spell financial disaster for the rest of the world/
JAPAN ON JAN 29.2016 CONTINUES NIRP. THIS MORNING RAISES AMOUNT OF BONDS THAT THEY WILL PURCHASE UP TO .5% ON THE 10 YR BOND///YEN TRADES TO 159.351 // 10 YEAR YIELD AFTER FIRST BREAKING .54% LAST YEAR NOW EXCEEDS THAT LEVEL TO 2.675% UP 2 BASIS PTS STILL ON CENTRAL BANK (JAPAN) INTERVENTION//YEN CARRY TRADE NOW UNWINDING//YEN BOND TRADING OVERSEAS REPATRIATED.//JAPAN 30 YR: 3.9216 UP 0 PTS..: USA/SF this 0.7833 as the Swiss Franc . Euro vs SF: 0.9128
USA 10 YR BOND YIELD: 4.425 DOWN 1 BASIS PTS…
USA 30 YR BOND YIELD: 4.9880 DOWN 1 BASIS PTS/
USA 2 YR BOND YIELD: 4.029 UP 2 BASIS PTS
USA DOLLAR VS TURKISH LIRA: 45.91 UP 3 BASIS PTS/LIRA GETTING KILLED//IDIOTS FOR SELLING GOLD AND USA DOLLAR RESERVES.
10 YR UK BOND YIELD: 4.8480 UP 3 PTS
30 YR UK BOND YIELD: 5.545 UP 3 BASIS PTS
10 YR CANADA BOND YIELD: 3.418 DOWN 2 BASIS PTS
5 YR CANADA BOND YIELD: 3.052 DOWN 5 BASIS PTS.
1a New York Opening report
Futures Rise Despite Oil Bounce, As Nvidia Keeps AI Euphoria Going
Monday, Jun 01, 2026 – 08:25 AM
Futures are positive and at session highs even as the a lack of a US / Iran deal pushes oil prices, bond yields, and volatility higher. As of 8:00am ET, S&P futures are up 0.3% to a new all time high of 7620; Nasdaq futures rise 0.2%: the Computex AI Conference kicked off; biggest news is NVDA to enter PC space with a new chip challenging AMD / INTC, helping send its stock up 2.3%. Microsoft shares gain 3.1% after Jensen Huang dismissed concerns over disruption from artificial intelligence. Geopolitics was in focus: in addition to a lack of a deal, there were renewed “kinetic skirmishes” that made headlines. Aside from Tech, Energy is the only sector seeing a uniform bid with elements of both Cyclicals and Defensives weaker highlighting concentration risk. WTI is above $91 as the Energy complex is rallying with Ags catching a bid and Metals mixed as Copper / Silver lead. USD is higher after 2 weeks of losses with bond yields 2 – 3bps. In equities, tech is leading with strength in Mag7 and Semis. Today’s macro data focus is on ISM-Mfg with ISM-Srvcs on Weds and NFP on Friday.
In premarket trading, Nvidia (NVDA) is up 2.3% after the leader in AI chips said it was entering the PC market with a new chip. The news is supporting chip-design company Arm, whose ADRs (ARM) are up 13%, while weighing on chipmakers in the CPU space, with Intel (INTC) down 6%, Qualcomm (QCOM) sinking 9.7%, and AMD (AMD) down 4.3%. Other Mag 7 names are mixed (Meta Platforms +0.3%, Amazon -0.5%, Apple -0.7%, Alphabet -0.8%, Tesla -1.5%).
- Software stocks rally, with Microsoft (MSFT) up 4.1%, after Nvidia CEO Jensen Huang rebuffed concerns that the industry is at risk of being disrupted by more advanced AI tools.
- IBM jumps 14% after a video of President Donald Trump praising the company’s CEO and discussing the stock at a December event recirculated on social media over the weekend.
- Oculis sinks 32% after the biopharmaceutical firm said studies of its OCS-01 eye drops in patients with diabetic macular edema missed primary endpoint.
- Redwire is down 7.1% after Jefferies downgraded the defense company to hold from buy.
- Strategy is down 2.7% as Mizuho Securities cut its the price target on the Bitcoin treasury company to $265 from $320 on lower crypto prices.
- Taylor Morrison Home Corporation is up 23% after Berkshire Hathaway agreed to acquire the company for a total enterprise value of approximately $8.5b.
In other corporate news, Revolution Medicines’s experimental pancreatic cancer drug daraxonrasib delayed painful symptoms for months, in addition to nearly doubling survival.
Traders are waiting for signs that a deal that would reopen the Strait of Hormuz remains on track after Israel stepped up its offensive against Iran-backed Hezbollah in Lebanon over the weekend. Tehran struck a Kuwaiti air base, while the US conducted “self-defense strikes” on Iranian radar and command-and-control sites. Lack of resolution pushed Brent 2.8% higher to nearly $94 a barrel, snapping a three-day run of losses.
The two sides also exchanged messages seeking amendments to a draft agreement. President Donald Trump urged calm, saying the situation will work out well. Iran said Israel’s attacks on Lebanon were preventing a deal.
“Markets need an agreement to open the Strait of Hormuz, to provide the next leg higher in equities and lower in rates,” Jefferies strategist Mohit Kumar told clients. “We still believe that we should get a leg higher when a deal is finally agreed upon.”
Overnight, Nvidia kept the AI trade alive as a stream of headlines emerge from Taiwan’s Computex event. Nvidia has entered the PC market with a new chip, RTX Spark Superchip, aimed at loosening the stranglehold of Intel technology in that arena. Nvidia also said Anthropic, OpenAI and SpaceX are among the first big users of its upcoming microprocessor Vera. The news is supporting chip-design company Arm, whose ADRs (ARM) are up 13%, while weighing on chipmakers in the CPU space, with Intel (INTC) down 6%, Qualcomm (QCOM) sinking 9.7%, and AMD (AMD) down 4.3%. Other Mag 7 names are mixed (Meta Platforms +0.3%, Amazon -0.5%, Apple -0.7%, Alphabet -0.8%, Tesla -1.5%).
“The rally in tech stocks is coherent when one looks at the earnings and profits of both the supplier of AI infrastructure and the hyperscalers,” said Mabrouk Chetouane, head of global market strategy at Natixis Global Asset Management. “There are those who claim there’s a bubble, but I simply see rising profits and a super cycle.”
Meanwhile, the benchmark SOX Index is set for its best quarter ever, soaring 69% in the past two months. Hedge funds have been leaning into market momentum — the cohort was a net buyer of US stocks for a second consecutive week, with purchases reaching their fastest pace in six months, according to Goldman Sachs’ Prime desk.
It is a quiet week on the earnings front, and traders’ focus will shift to a busy macro slate. Today’s manufacturing PMI from S&P Global and ISM might reflect a rush to stockpile goods ahead of potential price increases sparked by the Iran war, while April figures for construction spending could offer a read on the pace of AI data center buildout. Jobs week is coming up, with a slate of indicators on the labor market culminating on Friday with the government’s official report on employment for May, for which Bloomberg survey estimates payrolls to rise by 89,000.
“We believe net hiring troughed early last fall and has been improving gradually ever since. May’s job report should provide more evidence that hiring has picked up, while the unemployment rate is steady. Job openings also likely accelerated, despite persistent fears that AI is reducing demand for workers.”
“The US macro backdrop of a stabilizing labor market, sticky underlying inflation, and resilient economic activity back a more restrictive Fed,” wrote Elias Haddad at Brown Brothers Harriman & Co. Money markets continue to price around a 70% chance of a Federal Reserve interest rate hike by December.
Discretionary goods, transportation and financial stocks are cyclical pockets that stand to benefit from accelerating earnings momentum as well as the recent drop in oil prices, according to Morgan Stanley strategist Mike Wilson. Meanwhile, cross-asset strategists at Goldman Sachs flag global technology stocks as the focus of an unusually fast and narrow re-risking in financial markets.
Elsewhere, former Fed Chair Powell said the US central bank would lose credibility if any president were free to dismiss Fed officials over policy disagreements. At a security forum in Singapore, Defense Secretary Pete Hegseth sought to convince US allies that staying quiet on Taiwan is the best way to project American strength.
European stocks started June lower as investors favored AI-linked shares, leaving the region’s less tech-heavy benchmark at a disadvantage. Oil and gas stocks outperformed as commodity prices edged higher amid continued uncertainty over a peace deal between the US and Iran. Here are the biggest movers Monday:
- EasyJet shares jumped as much as 13% to the highest in three months after Castlelake said late Friday that it is considering an offer for the UK budget carrier
- Applied Nutrition gains as much as 15%, climbing to a record high, after the nutritional product company lifted its revenue expectations for the full year, and announced a strategic US addition, alongside a new North American flavor collaboration agreement with Mondelez
- Vusion shares rose as much as 10%, to the highest since Feb. 18, as BNP Paribas hikes its recommendation to outperform from neutral on order intake
- Polar Capital rose as much as 6.6% to its highest level since September 2021 after Deutsche Bank set a new Street-high price target for the UK asset manager
- Momentum Group is the best-performing stock on the Johannesburg bourse, gaining as much as 4.9%, the most in almost three months, after the insurer projected normalized headline earnings per share to have increased by 20% over the nine-month period ending March 2026
Earlier, Asian stocks climbed, extending a record-beating rally for a second session, as enthusiasm for the artificial intelligence trade outweighed caution over mixed signals surrounding the US-Iran peace deal. The MSCI Asia Pacific Index rose as much as 1.4% before paring some of the advance but still headed for a fresh record, with South Korea and Taiwan’s tech-heavy markets leading gains in the region. Benchmarks in Japan, Hong Kong and mainland China also advanced, while Australia declined. Markets are shut in Singapore, Indonesia, Malaysia and Thailand for public holidays.
Investors are buying into AI-related names after positive developments that are expected to support the region’s technology industry. Expectations of closer collaboration with Nvidia ahead of CEO Jensen Huang’s visit to South Korea spurred a jump in several chip-makers and physical AI firms. Software stocks, a sector that has suffered from AI disruption fears, also got a boost after Workday unveiled a partnership to integrate AI agents into HR and finance operations.
“The stock market has largely ignored lack of clarity on truce extension and kept its focus on the AI rally,” said Fabien Yip, market analyst at IG International. “We expect sentiments to be mildly positive this week ahead of Broadcom’s earnings and the US job report later this week.”
In FX, the greenback is mixed versus peers. Most Group-of-10 currencies traded in tight ranges with markets in Singapore and New Zealand shut for a local holiday
In rates, treasury futures hold small losses in early US session amid more pronounced bear-flattening in bunds. Brent crude higher by 3.4% and back towards $95/bbl. Higher energy prices have boosted yields, with the US 10yr borrowing cost up 3bps to 4.47%. US front-end and belly yields are about 3bp cheaper on the day, leading losses and flattening 5s30s spread by around 1.5bp. German front-end yields are up about 6bp, flattening German 2s10s spread by 2bp. German front-end bonds are lagging US and UK counterparts with ECB’s Schnabel cautioning over the risk of unanchored inflation expectations. IG dollar issuance slate includes several offerings already. Dealers expect a weekly total of around $35 billion and a monthly haul in the $130 billion-$135 billion range, versus $109 billion in June 2025. No Treasury coupon supply expected this week, with 3-year new issue and 10- and 30-year reopenings due next week
In commodities, Oil prices are higher in absence of a peace agreement between US and Iran. WTI crude oil futures are up 3.6% near session highs as Washington and Tehran trade messages seeking changes to a draft agreement to extend a ceasefire and reopen the Strait of Hormuz. Spot gold and silver are diverging, with the latter shedding 0.9% and former gaining 0.7%.
US Economic data slate includes May final S&P Global US manufacturing PMI (9:45am), May ISM manufacturing and April construction spending (10am). Fed speaker slate is blank for Monday.
Market Snapshot
Top Overnight News
- Donald Trump said talks with Iran over an interim peace deal will “work out well.” But oil bounced from a six-week low as clashes continued near the Strait of Hormuz. The US said it struck Iranian air defense facilities in response to the shooting down of an American drone. BBG
- Nvidia will debut a new chip for laptop and desktop computers to challenge Intel and AMD, whose shares were down premarket. BBG
- Anthropic cut its list of unauthorized secondary-market platforms to four from eight following pushback from investors. BBG
- Jay Powell has said the US Federal Reserve is in the throes of a “stress test” that threatens the strength and stability of the world’s largest economy, claiming Donald Trump’s attempts to fire central bankers undermine the rule of law. FT
- Tech giant SoftBank has become Japan’s biggest company by market value, as AI demand powers the country’s stocks to an all-time high and helps Masayoshi Son’s group overtake Toyota. The car manufacturer and industrial giant has been Japan’s biggest company by market capitalization for more than 20 years, and its ousting from the top slot reflects rising global investor interest in AI and semiconductor companies. FT
- China’s factory activity slowed in May, with the official manufacturing PMI edging down to 50, as expected, from 50.3 in April. BBG
- China issued sweeping new rules on Monday tightening control of overseas deals that involve Chinese investors, technology, data and national security, a month after Beijing ordered Meta to unwind its acquisition of AI startup Manus. RTRS
- Chinese mainland investors turned net sellers of Hong Kong stocks for the first time in nearly three years in May. BBG
- Eurozone inflation expectations weren’t as bad as feared, with 1-year unchanged at 4% while 3-year ticked down from 3% to 2.9% and 5-year held steady at 2.4%. ECB
- US IPO activity has recently accelerated following four consecutive years of muted issuance. 24 US companies have come to market so far in Q2 2026, bringing the YTD total to 40. This represents more than double the number of IPOs at this point in 2025 and the largest total through May since the 95 IPOs launched in the first five months of 2021. Nonetheless, despite the recent pickup in activity, the number of deals so far this year has lagged the average total of 50 IPOs through May since 1995: Goldman
Iran War
Iran Commentary
- Iran may propose changes to the US peace draft memorandum of understanding, according to Tasnim. This follows a report that President Trump proposed further changes to the existing text, while a source stated that text exchanges continue and that Iran may submit its own edits.
- Iranian Foreign Minister Araghchi told state media that talks and message exchanges with the US are ongoing, and that the talks cannot be judged until a clear result is reached.
- Iranian Foreign Ministry Spokesperson said the negotiation team’s visit to Qatar was positive.
- Iranian Foreign Ministry spokesperson said that they have a legal obligation to prevent aggressors from using their territory and facilities to attack another country.
- Iran’s Presidential Office denied reports that Iranian President Pezeshkian submitted his resignation to the Supreme Leader, and stated that the stories were spread by some foreign media.
- Iranian Supreme Leader’s military adviser Mohsen Rezaei said Iran has no intention of yielding or compromising with the US and will not place itself in a weak position, while he also stated that US President Trump is betraying diplomacy for the third time by continuing a naval blockade on Iran and making excessive demands.
- IRGC said following aggression of US Army on a communication tower on Sirik Island, located in the Homozgan province an hour ago, fighters of the IRGC Aerospace Force targeted airbase where aggression originated and predicted targets were destroyed.
- Iran’s top negotiator said “The naval blockade and escalation of war crimes in Lebanon by the genocidal Zionist regime are clear evidence of US noncompliance with the ceasefire”.
- Iranian Foreign Ministry Spokesperson said at this moment they do not believe that the US has good intentions towards Iran.
- Iran’s FM Baghaei said “No negotiations have taken place on the details of the nuclear issue at this stage”. One point being discussed is the allocation of funds for reconstruction. We are considering options for responding to the escalation of Israeli attacks in Lebanon.
- Iran’s Baghaei said a ceasefire in Lebanon is an integral part of any agreement and end to the war; lack of trust and constant change in US and Israeli positions in Lebanon are causing a delay on the diplomatic process. The continuation of maritime piracy and attacks on Iranian shipping is an example of a violation of the ceasefire. The diplomatic apparatus is closely following developments and we will take every measure to defend Iran’s sovereignty. The exchange of messages is still ongoing.
- Iran’s Deputy Foreign Minister Gharibabadi said Iran’s goal is not to hold ships in the Strait, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down. Stopping ships behind the Strait of Hormuz incurs storage and delay costs, and war insurance has increased by up to 500%. Accompanying Iranian forces costs less than war insurance and eliminates the risk of stoppage, inspection, and seizure. Iran’s goal is not to hold the ships, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down.
- “Three consecutive explosions were heard in Bandar Abbas”, Iran International reported.
- US President Trump reportedly sent tougher terms to Iran regarding the peace framework, according to officials cited by The New York Times.
US Commentary
- US President Trump posted “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us”. Full post “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us. But don’t the Dumocrats, and various seemingly unpatriotic Republicans, understand that it is MUCH tougher for me to properly do my job and negotiate, when political hacks keep negatively “chirping,” at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever. Just sit back and relax, it will all work out well in the end – It always does! President DJT”.
- US President Trump posted “Fake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon”. Full post “ScraperFake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon. It then goes on, in very strong and lengthy detail, to discuss various other aspects of Nuclear. In fact, that’s what most of the agreement is about. CNN, and so many others in the Fake News Media, is a Low Ratings disaster. Even with new ownership, it is unlikely to ever get better!!! President DJT”.
- US Secretary of State Rubio spoke in the last 48 hours with Lebanon’s President and Israel’s PM to try and promote a new ceasefire initiative, according to a senior US official cited by Axios’s Ravid. said:. US senior official said that the new initiative was proposed as part of the negotiations taking place between Israel and Lebanon, as another round of talks between diplomats from both sides is scheduled to take place this week in Washington. In order to advance the talks, US proposed that as a first step, Hezbollah stop all attacks on Israel, and in return, Israel will refrain from escalation in Beirut.
- US Central Command confirmed military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island over the weekend.
- Kuwait Army said air defences are intercepting hostile missile and drone attacks.
Lebanon
- Israeli PM Netanyahu said they will attack targets in the southern suburbs of Beirut, in response to Hezbollah violating the ceasefire agreement.
- “Walla News, citing a source: Washington is open to Israel’s request to expand its military operation in Lebanon”, Al Araby reported.
- Israeli jets hit Al-Qatrani, Al-Mawahani and Bin Jabal in Lebanon, according to IRIB.
- Sirens sounded in Tiberias and surrounding areas after rockets were launched from Lebanon.
- Lebanon is intensifying its efforts to solidify the ceasefire and is conducting international contacts, particularly with the Americans, in light of Israeli threats, Al-Araby reported citing sources. Talks with the US are still scheduled for tomorrow.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks began the new month predominantly in the green with the Nikkei 225 and KOSPI extending on fresh record highs amid tech-related strength and following a lack of any major geopolitical developments over the weekend, with a US-Iran peace agreement remaining elusive, while participants also got to digest mixed Chinese PMI data. ASX 200 traded rangebound with demand constrained as the strength in tech and miners is offset by underperformance in defensives, telecoms and real estate. Nikkei 225 rose to a fresh record high and briefly surpassed the 67,000 level for the first time amid tech strength, which saw SoftBank overtake Toyota as the largest Japanese company by market cap. KOSPI outperformed with index heavyweight Samsung Electronics rallying around 10% amid the tech momentum, while an industry report noted that the Co. surpassed Micron to become the world’s leading supplier of automotive memory chips last year. Hang Seng and Shanghai Comp were varied, with the mainland indecisive following mixed Chinese PMI data in which official Manufacturing PMI missed forecasts, but Non-Manufacturing PMI showed a surprise return to expansion territory, while RatingDog Manufacturing PMI topped forecasts. In addition, trade frictions linger as China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, while the State Council announced that new rules tightening the oversight of outbound investments in selected technologies will take effect on July 1st.
Top Asian News
- Japanese S&P Global Manufacturing PMI Final (May) 54.5 vs. Exp. 54.5 (Prev. 55.1).
- Australian S&P Global Manufacturing PMI Final (May) 50.7 vs. Exp. 50.2 (Prev. 51.3).
European bourses are broadly lower this morning, as markets digest another flare-up between the US and Iran, with Israel also seemingly upping its presence in southern Lebanon once again. From an index perspective, the AEX (-0.4%) mildly underperforms whilst the DAX 40 (+0.2%) holds afloat. European sectors are mixed. Energy unsurprisingly tops the pile, given the gains in underlying oil prices; Tech and Basic Resources complete the top three. To the downside reside Media and then Healthcare; the former has been weighed by losses in UMG (-2%), after it rejected Pershing Square’s unsolicited offer.
Top European News
- Hungarian PM Magyar said will amend constitution to oust Hungarian President.
- Morningstar DBRS confirms Spain at A (high), Stable Trend.
- S&P affirms Hungary at BBB-; Outlook negative.
- Former UK Health Secretary and potential leadership contender Wes Streeting flagged the idea of lowering employers’ national insurance and favours new North Sea oil drilling.
- S&P confirmed France’s sovereign rating at A+; Outlook Stable, according to French Finance Minister Lescure.
- SoftBank pledged to spend at least USD 52bln on building a network of data centres in France as it seeks to deliver as much as 3.1 gigawatts of computing capacity in the country by 2031, according to WSJ.
FX
- Mixed performance across G10s with most currencies lower against the Greenback (ex. GBP/NOK given oil/yield moves.)
- GBP is the mild outperformer after reporting over the weekend suggested unofficial UK PM candidate Burnham was eyeing right-leaning Home Secretary Shabana Mahmood as potential Chancellor. The Sun reported Mahmood “is meant to have done a deal with Burnham”. Mahmood has previously defended efforts to reduce the amount spent on welfare, and is known for a right-leaning stance on immigration. Though these updates are speculative at the moment, Sterling has attracted buyers and is one of the only G10 currencies positive against the Buck. GBP/USD +0.1%, EUR/GBP -0.1%.
- USD is unchanged/modestly firmer and either side of the 99.00 mark. No US-specific newsflow over the weekend, just Geopolitics as explained below. Set to be a busy week of Labour market data, today sees the release of S&P/ISM manufacturing PMIs, Tuesday sees JOLTs Job Openings, ADP weekly payrolls on Wednesday, Challenger layoffs on Thursday, and then NFP on Friday. ING writes, “Should the jobs data stay supportive and price pressures through the ISM surveys remain intense, markets can probably shift towards pricing one full 25bp Fed rate hike this year. That compares to +17bp of tightening priced currently.”
- NOK is being helped by energy benchmarks with Brent Aug’26 +3% after NYT reported Trump sent tougher terms to Iran regarding the peace framework, Tasnim outlined that Iran could propose changes to the MoU, while both sides exchanged fire over the weekend. USD/NOK -0.2%, NOK/SEK +0.5%.
- Aussie lacks direction after mixed Chinese PMI data overnight, while Kiwi lacks demand with domestic participants absent amid a market holiday. AUD/NZD +0.4%, AUD/USD U/C, NZD/USD -0.5%.
Fixed Income
- A softer start for fixed income as the energy space climbed in APAC hours, given a handful of detrimental updates on the US-Iran situation. Since, the press conference from Iran’s spokesperson has provided further support to energy, with Araghchi noting that no negotiations have taken place on the details of the nuclear issue.
- USTs and Bunds lower overnight, in proximity to the troughs from Friday. Gilts opened lower by around 35 ticks and then slipped a handful more to a 88.31 trough, pressured but comfortably clear of levels below 88.00 at 87.94 and 87.86 from last week.
- USTs and Bunds are similarly at lows, down by five and 50 ticks respectively. Specifics for the US and Europe are a little light aside from a few Central Bank speakers, with the focus firmly on any geopolitical update(s) or a significant change to the equity space. On the latter, the focus has been firmly on South Korea given the stellar gains in the market YTD and the ongoing marked strength seen today, i.e. Samsung Electronics +10%.
- No move to the final PMIs for the EZ and UK thus far. Ahead, we get the US ISM Manufacturing PMI before the latest Atlanta Fed.
Commodities
- The geopolitical environment is clouded by uncertainty, with a recent flare-up between the US and Iran once again leading to firmer trade in crude benchmarks. In brief, the US Central Command said that military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island – this was then met with IRGC retaliation. Outside of Iran, Kuwait said air defences were intercepting hostile missile and drone attacks.
- As for the journey to negotiations, the US and Iran are both reportedly altering the draft MoU. President Trump reportedly sent “tougher terms” regarding the framework, NYT reported. In response, Tasnim suggested that Iran may propose its own changes.
- As for the European day, there have been a few appearances from Iranian officials; Deputy FM for Legal Affairs Gharibabadi noted that Iran’s goal is to accompany ships through the Strait, and “these arrangements are not temporary and Iran will not back down”. Elsewhere, Iran’s FM Baghaei said, “no negotiations have taken place on the details of the nuclear issue at this stage”. Comments which helped the upward bias in oil benchmarks.
- WTI and Brent are stronger this morning by c. 4.1% and 3.1% respectively. Prices gapped up at the open, and gradually moved higher as the session progressed; as it stands, the complex resides towards highs. WTI trades within a USD 88.45-91.26/bbl range, whilst Brent holds at the upper end of a USD 90.05-92.11/bbl range.
- Spot gold is lower by around a per cent and currently resides within a USD 4,490-4,546/oz range, and towards the bottom end of Friday’s range. Ultimately, action is dictated by the inflationary implications of heightened geopolitical risk. Elsewhere, base metals are broadly firmer, following on from a positive APAC session overnight. 3M LME copper posts gains of c. 1.4% and currently trades towards the day’s peaks, within a USD 13,635.4-13,814/t range.
- Russia to ban jet fuel exports until the end of November, Ifx reported.
- Citigroup raises its near-term copper price forecast to USD 14,500 per metric tonne and set a 6-12 month target of USD 15,000 per metric tonne.
Trade/Tariffs
- UK Business Secretary Kyle set to travel to India this week for talks about the recent trade deal as well as steel tariff measures announced by the government in March, SKY news reported.
- China’s State Council said new rules regarding China tightening oversight of outbound investments in selected technologies take effect July 1st.
- China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, following a European Commission discussion on China policy last Friday.
Central Banks
- Fed’s Powell (voter) said Fed will lose credibility if the President removes officials over policy, while he remain on the board according to Barron’s.
- Fed’s Waller (voter) said the spread of stablecoins globally could broaden the reach of US monetary policy.
- BoJ’s Koeda said oil is a negative supply shock for Japan.
- EU ECB Consumer Inflation Expectations (Apr) 1yr ahead 4% (prev. 4%); 3yr ahead 2.9% (prev. 3%).
- ECB’s Villeroy said Bank of France estimates for French Economic growth in 2026 will be revised down, in view of bad Q1 surprise. Growth estimates should remain positive in most scenarios.
- ECB Schnabel said supply shock is seen as large and highly persistent, adds that oil prices are expected to stay elevated for some time.
- BoE’s Mann said the long run of good luck central bankers experienced in containing inflation has run out with a more shock-prone era setting in.
- ECB’s Pereira said the central bank shouldn’t hesitate to act and thinks that it is better to act sooner rather than later, so that they don’t have much greater second-order effects later on.
- ECB’s Vujcic said Croatia’s inflation is likely to ease in May after accelerating to the fastest annual pace in the euro area of 5.8% in April.
- PBoC set USD/CNY mid-point at 6.8167 vs exp. 6.7645 (prev. 6.8176).
Geopolitics
- Russia to ban jet fuel exports until the end of November, Ifx reported.
- Ukraine’s Air Force said Russian guided bombs strike the Donetsk region and drones are heading from Kharkiv to the Poltava region.
- Ukraine Air Force said enemy drones were detected over northwestern Kharkiv region.
US Event Calendar
- 9:45 am: May F S&P Global US Manufacturing PMI, est. 55.3, prior 55.3
- 10:00 am: May ISM Manufacturing, est. 53, prior 52.7
- 10:00 am: May ISM Prices Paid, est. 85, prior 84.6
- 10:00 am: Apr Construction Spending MoM, est. 0.25%, prior 0.6%
DB’s Jim Reid concludes the overnight wrap
As it’s unbelievably the start of June already, Henry will shortly release our regular performance review for May. It was another eventful month, as hopes for a US-Iran deal meant Brent crude (-19.3%) saw its biggest decline since March 2020 when the pandemic lockdowns began. So stagflation fears eased dramatically, and the S&P 500 hit fresh records. Otherwise, chip stocks were the big outperformer as excitement around AI returned, with the Philly semiconductor index up another +22.2% in total return terms in May. Moreover, South Korea’s KOSPI was up +28.5%, taking its YTD gains to an astonishing +102.4% in just five months. See the full review in your inboxes shortly.
Whether June continues the positivity of May will surely depend on whether the hopes of a US-Iran deal turn into reality. It’s been 93 days now since the strikes began and 54 since the truce that later became a ceasefire started. We’ve never felt closer to a deal but potentially never felt closer to it all falling apart with isolated strikes becoming more frequent including some again over the weekend. It’s hard to imagine remaining in limbo for much longer given that if the Strait of Hormuz remains closed into mid-summer it will at some point likely lead to a non-linear tipping point of economic stress. For now, it seems Mr Trump is still deciding on whether the current negotiations between the two nations satisfy his demands. He has been surprisingly quiet over the weekend which indicates things perhaps coming close to a head. Meanwhile Israel and Hezbollah are trading attacks again which complicates matters even if fresh ceasefire proposals are being worked on. We could have said this a week ago, but it really feels like the next few hours and days will be critical.
Brent is up +2.4% this morning but it hasn’t impacted equities much with S&P (+0.25%) and Nasdaq (+0.52%) futures higher again and Asia again strong, mostly on the AI trade. Indeed the KOSPI (+4.45%) is again the standout performer. Elsewhere the Nikkei (+0.85%) and Hang Seng (+0.88%) are the other main gainers with mainland Chinese markets slightly lower, perhaps on fairly flat PMI data this morning and over the weekend. 10yr UST are back up +3bps at 4.465% given the higher oil this morning.
Over the weekend China’s official manufacturing and non-manufacturing PMI came in at 50.0 (in-line with consensus, 50.3 last month) and 50.1 respectively (consensus 49.5, 49.4 last month). The private sector manufacturing PMI came in at 50.1, four tenths of a percent higher than last month. You can see our economists’ review of the PMIs here. He believes you are seeing the impact of higher oil prices in the activity data.
Looking ahead to the coming week, the key event for markets outside of Iran will be Friday’s US May employment report. Our economists forecast a notable moderation in payroll growth compared with the relatively strong pace seen earlier in the spring. Headline nonfarm payrolls are expected to rise by around 50k (consensus 89k), down from 115k in April, while private payrolls are forecast at roughly 60k (consensus 89k) after 123k previously. This slowing partly reflects their expectation that hiring in sectors that have been particularly strong in recent months – notably transportation and warehousing, as well as retail trade – begins to cool. Unemployment is expected to remain steady at 4.3% (consensus also 4.3%).
Ahead of Friday’s jobs report, the rest of the US labour market data flow should reinforce the Federal Reserve’s growing confidence that labour market conditions are stabilising. Tomorrow, the April JOLTS report will shed light on the gross hiring and separation flows that underpinned last month’s solid net job gains. On Wednesday, the ADP private payrolls report is forecast by our economists to show a gain of around 130k, up from 109k previously, consistent with the strength seen in ADP’s high-frequency indicators. On Thursday, weekly initial jobless claims are expected to remain relatively low, although our economists see scope for a temporary uptick to around 220k, partly reflecting seasonal distortions associated with the Memorial Day holiday period.
Beyond the labour market, the focus will also be on whether recent resilience in US economic activity is sustained. Today, the May manufacturing ISM survey is forecast by our economists to rise to around 54.0 from 52.7 in April, supported by encouraging signals from regional Fed surveys. Later in the week, Thursday’s services ISM is expected to edge higher to roughly 53.9 from 53.6. That said, the backdrop for consumer spending remains mixed. Elevated petrol prices and tariff-related increases in core goods inflation are emerging headwinds, and our economists therefore expect tomorrow’s unit motor vehicle sales to remain broadly flat at around 16.0 million annualised.
Alongside the data, Federal Reserve communication will be closely watched. On Wednesday, the Fed will publish its Beige Book, offering anecdotal evidence on economic conditions across districts. Fed speak is scattered through the week but it’s mostly from officials who have spoken recently so it shouldn’t break new ground.
Outside the US, Europe will see several important inflation releases. Today, the ECB publishes its consumer expectations survey, providing an update on household inflation views. Tomorrow, the Eurozone releases its flash CPI estimate for May, following national releases over recent days and today. Further inflation data are due on Thursday from Switzerland and Sweden, adding to the regional picture ahead of upcoming central bank meetings.
Central bank speakers are also in focus outside of the Fed. ECB President Lagarde is scheduled to speak on Thursday, while Bank of England Governor Bailey appears multiple times through the week, including tomorrow, Thursday and Friday. In Asia, Bank of Japan Governor Ueda is due to speak on Wednesday.
In China we’ve already had most of the PMIs over the weekend and this morning (see more above) but the private sector services PMI is out on Wednesday. In Japan, Friday brings labour cash earnings data. Our Chief Japan economist expects wage growth to slow to around 2.5% year on year, from 2.8% previously. Elsewhere in the region, Australia releases its Q1 GDP figures on Wednesday.
Finally, the corporate earnings calendar is also busy, with several high-profile releases. In the technology sector, results are due from Broadcom, Palo Alto Networks and CrowdStrike during the week, while consumer-focused names reporting include Inditex, Dollar General and Lululemon Athletica. See the day-by-day calendar at the end as usual for a fuller week ahead preview.
Recapping last week now and markets put in a strong performance overall, driven by mounting hopes for some kind of peace deal between the US and Iran. Several headlines pointed in that direction, with multiple outlets reporting that the two sides would agree a 60-day ceasefire extension. So that led to a sharp decline in oil prices, with Brent crude down -11.10% last week (-1.77% Friday) to $92.05/bbl. And investors moved to price out the chance of a protracted conflict as well, with the 6-month Brent future also down -4.64% to $84.18/bbl.
That decline in oil prices meant fears about inflation continued to ease last week. For instance, the Euro 1yr inflation swap fell -38.1bps to 3.24%, and the US 1yr inflation swap fell -10.2bps to 3.01%. So investors also dialled back their expectations for rate hikes too, with a Fed hike by December down to 57% by the close on Friday, having been at 95% the previous week. Similarly at the ECB, the number of hikes priced by December fell from 65bps to 53bps by Friday’s close. And in turn, sovereign bonds rallied around the world, with the 10yr Treasury yield falling -12.2bps last week (-1.1bps Friday) to 4.44%, whilst the 10yr bund yield fell -10.0bps (-2.4bps Friday) to 2.94%.
With optimism rising on the geopolitical situation, equities also put in a strong performance around the world. For instance, the S&P 500 rose +1.43% (+0.22% Friday), marking a 9th consecutive weekly gain for the index, which is the first time that’s happened since 2023. Tech stocks did particularly well, with the NASDAQ up +2.39% (+0.20% Friday). And the rally extended globally, with Japan’s Nikkei up +4.72% (+2.53% Friday), whilst Europe’s STOXX 600 saw a modest +0.14% gain last week (+0.14% Friday). Finally in credit, spreads tightened a bit last week, with Euro IG tightening -1bps, and Euro HY tightening -10bps. In the US, IG spreads were steady, while HY tightened by -3bps.
1b European opening report
DXY firms in tandem with Energy benchmarks amidst a US and Iran flare-up; Stocks firm as NVDA/MSFT unveil PC chip – Newsquawk US Market Open
Monday, Jun 01, 2026 – 05:36 AM
- US President Trump sent tougher terms to Iran re. the peace framework, NY Times reported. Tasnim outlined that Iran could propose changes to the MOU.
- Israel expanded its ground offensive in Lebanon; PM Netanyahu said that it will attack targets in the southern suburbs of Beirut.
- Iran’s FM Baghaei said that a ceasefire in Lebanon is an integral part of any agreement, adding that they are considering options for responding to the escalation of Israeli attacks in Lebanon.
- Crude benchmarks gain amidst a US and Iran flare-up and after Kuwait reports drone attacks; Brent Aug’26 +3%.
- Tentative trade across European/US equity futures; focus on Nvidia (+1.9%) and Microsoft (+2.9%) after debuting a new AI PC chip.
- DXY incrementally firmer, GBP marginally leads, whilst the Kiwi lags.
- Looking ahead, highlights include Global Manufacturing Final PMIs (May), US ISM Manufacturing (May), and Atlanta Fed GDP.
IRAN CONFLICT
IRANIAN COMMENTARY
- Iran may propose changes to the US peace draft memorandum of understanding, according to Tasnim. This follows a report that President Trump proposed further changes to the existing text, while a source stated that text exchanges continue and that Iran may submit its own edits.
- Iranian Foreign Minister Araghchi told state media that talks and message exchanges with the US are ongoing, and that the talks cannot be judged until a clear result is reached.
- Iranian Foreign Ministry Spokesperson said the negotiation team’s visit to Qatar was positive.
- Iranian Foreign Ministry spokesperson said that they have a legal obligation to prevent aggressors from using their territory and facilities to attack another country.
- Iran’s Presidential Office denied reports that Iranian President Pezeshkian submitted his resignation to the Supreme Leader, and stated that the stories were spread by some foreign media.
- Iranian Supreme Leader’s military adviser Mohsen Rezaei said Iran has no intention of yielding or compromising with the US and will not place itself in a weak position, while he also stated that US President Trump is betraying diplomacy for the third time by continuing a naval blockade on Iran and making excessive demands.
- IRGC said following aggression of US Army on a communication tower on Sirik Island, located in the Homozgan province an hour ago, fighters of the IRGC Aerospace Force targeted airbase where aggression originated and predicted targets were destroyed.
- Iran’s top negotiator said “The naval blockade and escalation of war crimes in Lebanon by the genocidal Zionist regime are clear evidence of US noncompliance with the ceasefire”.
- Iranian Foreign Ministry Spokesperson said at this moment they do not believe that the US has good intentions towards Iran.
- Iran’s FM Baghaei said “No negotiations have taken place on the details of the nuclear issue at this stage”. One point being discussed is the allocation of funds for reconstruction. We are considering options for responding to the escalation of Israeli attacks in Lebanon.
- Iran’s Baghaei said a ceasefire in Lebanon is an integral part of any agreement and end to the war; lack of trust and constant change in US and Israeli positions in Lebanon are causing a delay on the diplomatic process. The continuation of maritime piracy and attacks on Iranian shipping is an example of a violation of the ceasefire. The diplomatic apparatus is closely following developments and we will take every measure to defend Iran’s sovereignty. The exchange of messages is still ongoing.
- Iran’s Deputy Foreign Minister Gharibabadi said Iran’s goal is not to hold ships in the Strait, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down. Stopping ships behind the Strait of Hormuz incurs storage and delay costs, and war insurance has increased by up to 500%. Accompanying Iranian forces costs less than war insurance and eliminates the risk of stoppage, inspection, and seizure. Iran’s goal is not to hold the ships, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down.
- “Three consecutive explosions were heard in Bandar Abbas”, Iran International reported.
US COMMENTARY:
- US President Trump reportedly sent tougher terms to Iran regarding the peace framework, according to officials cited by The New York Times.
- US President Trump posted “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us”. Full post “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us. But don’t the Dumocrats, and various seemingly unpatriotic Republicans, understand that it is MUCH tougher for me to properly do my job and negotiate, when political hacks keep negatively “chirping,” at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever. Just sit back and relax, it will all work out well in the end – It always does! President DJT”.
- US President Trump posted “Fake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon”. Full post “ScraperFake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon. It then goes on, in very strong and lengthy detail, to discuss various other aspects of Nuclear. In fact, that’s what most of the agreement is about. CNN, and so many others in the Fake News Media, is a Low Ratings disaster. Even with new ownership, it is unlikely to ever get better!!! President DJT”.
- US Secretary of State Rubio spoke in the last 48 hours with Lebanon’s President and Israel’s PM to try and promote a new ceasefire initiative, according to a senior US official cited by Axios’s Ravid. said:. US senior official said that the new initiative was proposed as part of the negotiations taking place between Israel and Lebanon, as another round of talks between diplomats from both sides is scheduled to take place this week in Washington. In order to advance the talks, US proposed that as a first step, Hezbollah stop all attacks on Israel, and in return, Israel will refrain from escalation in Beirut.
- US Central Command confirmed military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island over the weekend.
- Kuwait Army said air defences are intercepting hostile missile and drone attacks.
LEBANON
- Israeli PM Netanyahu said they will attack targets in the southern suburbs of Beirut, in response to Hezbollah violating the ceasefire agreement.
- “Walla News, citing a source: Washington is open to Israel’s request to expand its military operation in Lebanon”, Al Araby reported.
- Israeli jets hit Al-Qatrani, Al-Mawahani and Bin Jabal in Lebanon, according to IRIB.
- Sirens sounded in Tiberias and surrounding areas after rockets were launched from Lebanon.
- Lebanon is intensifying its efforts to solidify the ceasefire and is conducting international contacts, particularly with the Americans, in light of Israeli threats, Al-Araby reported citing sources. Talks with the US are still scheduled for tomorrow.
EUROPEAN TRADE
EQUITIES
- European bourses are broadly lower this morning, as markets digest another flare-up between the US and Iran, with Israel also seemingly upping its presence in southern Lebanon once again. From an index perspective, the AEX (-0.4%) mildly underperforms whilst the DAX 40 (+0.2%) holds afloat.
- European sectors are mixed. Energy unsurprisingly tops the pile, given the gains in underlying oil prices; Tech and Basic Resources complete the top three. To the downside reside Media and then Healthcare; the former has been weighed by losses in UMG (-2%), after it rejected Pershing Square’s unsolicited offer.
- US equity futures are incrementally firmer/flat. The ES/NQ (+0.2%) post incremental gains, whilst the RTY (U/C) holds around the unchanged mark. Tentative action encapsulated by the uncertain geopolitical environment, but focus ahead will turn to key data incl. ISM Manufacturing and Final Manufacturing PMIs. The former takes more focus where the headline is expected at 53.0 (prev. 52.7).
- Nvidia (+1.8%) and Microsoft (+3%) unveiled RTX Spark, a 1-petaflop superchip for Windows PCs built for personal AI agents.
- Click for the sessions European pre-market equity newsflow
- Click for the additional news
FX
- Mixed performance across G10s with most currencies lower against the Greenback (ex. GBP/NOK given oil/yield moves.)
- GBP is the mild outperformer after reporting over the weekend suggested unofficial UK PM candidate Burnham was eyeing right-leaning Home Secretary Shabana Mahmood as potential Chancellor. The Sun reported Mahmood “is meant to have done a deal with Burnham”. Mahmood has previously defended efforts to reduce the amount spent on welfare, and is known for a right-leaning stance on immigration. Though these updates are speculative at the moment, Sterling has attracted buyers and is one of the only G10 currencies positive against the Buck. GBP/USD +0.1%, EUR/GBP -0.1%.
- USD is unchanged/modestly firmer and either side of the 99.00 mark. No US-specific newsflow over the weekend, just Geopolitics as explained below. Set to be a busy week of Labour market data, today sees the release of S&P/ISM manufacturing PMIs, Tuesday sees JOLTs Job Openings, ADP weekly payrolls on Wednesday, Challenger layoffs on Thursday, and then NFP on Friday. ING writes, “Should the jobs data stay supportive and price pressures through the ISM surveys remain intense, markets can probably shift towards pricing one full 25bp Fed rate hike this year. That compares to +17bp of tightening priced currently.”
- NOK is being helped by energy benchmarks with Brent Aug’26 +3% after NYT reported Trump sent tougher terms to Iran regarding the peace framework, Tasnim outlined that Iran could propose changes to the MoU, while both sides exchanged fire over the weekend. USD/NOK -0.2%, NOK/SEK +0.5%.
- Aussie lacks direction after mixed Chinese PMI data overnight, while Kiwi lacks demand with domestic participants absent amid a market holiday. AUD/NZD +0.4%, AUD/USD U/C, NZD/USD -0.5%.
FIXED INCOME
- A softer start for fixed income as the energy space climbed in APAC hours, given a handful of detrimental updates on the US-Iran situation. Since, the press conference from Iran’s spokesperson has provided further support to energy, with Araghchi noting that no negotiations have taken place on the details of the nuclear issue.
- USTs and Bunds lower overnight, in proximity to the troughs from Friday. Gilts opened lower by around 35 ticks and then slipped a handful more to a 88.31 trough, pressured but comfortably clear of levels below 88.00 at 87.94 and 87.86 from last week.
- USTs and Bunds are similarly at lows, down by five and 50 ticks respectively. Specifics for the US and Europe are a little light aside from a few Central Bank speakers, with the focus firmly on any geopolitical update(s) or a significant change to the equity space. On the latter, the focus has been firmly on South Korea given the stellar gains in the market YTD and the ongoing marked strength seen today, i.e. Samsung Electronics +10%.
- No move to the final PMIs for the EZ and UK thus far. Ahead, we get the US ISM Manufacturing PMI before the latest Atlanta Fed.
COMMODITIES
- The geopolitical environment is clouded by uncertainty, with a recent flare-up between the US and Iran once again leading to firmer trade in crude benchmarks. In brief, the US Central Command said that military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island – this was then met with IRGC retaliation. Outside of Iran, Kuwait said air defences were intercepting hostile missile and drone attacks.
- As for the journey to negotiations, the US and Iran are both reportedly altering the draft MoU. President Trump reportedly sent “tougher terms” regarding the framework, NYT reported. In response, Tasnim suggested that Iran may propose its own changes.
- As for the European day, there have been a few appearances from Iranian officials; Deputy FM for Legal Affairs Gharibabadi noted that Iran’s goal is to accompany ships through the Strait, and “these arrangements are not temporary and Iran will not back down”. Elsewhere, Iran’s FM Baghaei said, “no negotiations have taken place on the details of the nuclear issue at this stage“. Comments which helped the upward bias in oil benchmarks.
- WTI and Brent are stronger this morning by c. 4.1% and 3.1% respectively. Prices gapped up at the open, and gradually moved higher as the session progressed; as it stands, the complex resides towards highs. WTI trades within a USD 88.45-91.26/bbl range, whilst Brent holds at the upper end of a USD 90.05-92.11/bbl range.
- Spot gold is lower by around a per cent and currently resides within a USD 4,490-4,546/oz range, and towards the bottom end of Friday’s range. Ultimately, action is dictated by the inflationary implications of heightened geopolitical risk. Elsewhere, base metals are broadly firmer, following on from a positive APAC session overnight. 3M LME copper posts gains of c. 1.4% and currently trades towards the day’s peaks, within a USD 13,635.4-13,814/t range.
- Russia to ban jet fuel exports until the end of November, Ifx reported.
- Citigroup raises its near-term copper price forecast to USD 14,500 per metric tonne and set a 6-12 month target of USD 15,000 per metric tonne.
TRADE/TARIFFS
- UK Business Secretary Kyle set to travel to India this week for talks about the recent trade deal as well as steel tariff measures announced by the government in March, SKY news reported.
- China’s State Council said new rules regarding China tightening oversight of outbound investments in selected technologies take effect July 1st.
- China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, following a European Commission discussion on China policy last Friday.
NOTABLE EUROPEAN HEADLINES
- Hungarian PM Magyar said will amend constitution to oust Hungarian President.
- Morningstar DBRS confirms Spain at A (high), Stable Trend.
- S&P affirms Hungary at BBB-; Outlook negative.
- Former UK Health Secretary and potential leadership contender Wes Streeting flagged the idea of lowering employers’ national insurance and favours new North Sea oil drilling.
- S&P confirmed France’s sovereign rating at A+; Outlook Stable, according to French Finance Minister Lescure.
- SoftBank pledged to spend at least USD 52bln on building a network of data centres in France as it seeks to deliver as much as 3.1 gigawatts of computing capacity in the country by 2031, according to WSJ.
NOTABLE EUROPEAN DATA RECAP
- EU Unemployment Rate (Apr) 6.3% (Prev. 6.2%).
- EU Loans to Households YoY (Apr) Y/Y 3% (Prev. 3%).
- EU S&P Global Manufacturing PMI Final (May) 51.6 vs. Exp. 51.4 (Prev. 52.2).
- EU Loans to Companies YoY (Apr) Y/Y 3.4% (Prev. 3.2%).
- EU M3 Money Supply YoY (Apr) Y/Y 2.7% (Prev. 3.2%).
- UK S&P Global Manufacturing PMI Final (May) 53.9 vs. Exp. 53.7 (Prev. 53.7).
- UK Nationwide Housing Prices YoY (May) Y/Y 1.7% (Prev. 3%).
- UK Nationwide Housing Prices MoM (May) M/M -0.6% (Prev. 0.4%).
- German S&P Global Manufacturing PMI Final (May) 50.1 vs. Exp. 49.9 (Prev. 51.4).
- German Retail Sales YoY (Apr) Y/Y -0.3% (Prev. -2%).
- German Retail Sales MoM (Apr) M/M -0.3% (Prev. -2%).
- French S&P Global Manufacturing PMI Final (May) 49.7 vs. Exp. 48.9 (Prev. 52.8).
- Italian S&P Global Manufacturing PMI (May) 52.9 (Prev. 52.1).
- Spanish S&P Global Manufacturing PMI (May) 51.2 (Prev. 51.7).
- Swiss GDP Growth Rate QoQ Final (Q1) Q/Q 0.7% vs. Exp. 0.5% (Prev. 0.2%).
- Swiss GDP Growth Rate YoY (Q1) Y/Y 0.5% (Prev. 0.7%).
CENTRAL BANKS
- Fed’s Powell (voter) said Fed will lose credibility if the President removes officials over policy, while he remain on the board according to Barron’s.
- Fed’s Waller (voter) said the spread of stablecoins globally could broaden the reach of US monetary policy.
- BoJ’s Koeda said oil is a negative supply shock for Japan.
- EU ECB Consumer Inflation Expectations (Apr) 1yr ahead 4% (prev. 4%); 3yr ahead 2.9% (prev. 3%).
- ECB’s Villeroy said Bank of France estimates for French Economic growth in 2026 will be revised down, in view of bad Q1 surprise. Growth estimates should remain positive in most scenarios.
- ECB Schnabel said supply shock is seen as large and highly persistent, adds that oil prices are expected to stay elevated for some time.
- BoE’s Mann said the long run of good luck central bankers experienced in containing inflation has run out with a more shock-prone era setting in.
- ECB’s Pereira said the central bank shouldn’t hesitate to act and thinks that it is better to act sooner rather than later, so that they don’t have much greater second-order effects later on.
- ECB’s Vujcic said Croatia’s inflation is likely to ease in May after accelerating to the fastest annual pace in the euro area of 5.8% in April.
- PBoC set USD/CNY mid-point at 6.8167 vs exp. 6.7645 (prev. 6.8176).
GEOPOLITICS
RUSSIA-UKRAINE
- Russia to ban jet fuel exports until the end of November, Ifx reported.
- Ukraine’s Air Force said Russian guided bombs strike the Donetsk region and drones are heading from Kharkiv to the Poltava region.
- Ukraine Air Force said enemy drones were detected over northwestern Kharkiv region.
CRYPTO
- Bitcoin is on the backfoot today, and trades back below USD 73k; Ethereum also posts losses of c. 2% and trades back below the USD 2k mark.
APAC TRADE
- APAC stocks began the new month predominantly in the green with the Nikkei 225 and KOSPI extending on fresh record highs amid tech-related strength and following a lack of any major geopolitical developments over the weekend, with a US-Iran peace agreement remaining elusive, while participants also got to digest mixed Chinese PMI data.
- ASX 200 traded rangebound with demand constrained as the strength in tech and miners is offset by underperformance in defensives, telecoms and real estate.
- Nikkei 225 rose to a fresh record high and briefly surpassed the 67,000 level for the first time amid tech strength, which saw SoftBank overtake Toyota as the largest Japanese company by market cap.
- KOSPI outperformed with index heavyweight Samsung Electronics rallying around 10% amid the tech momentum, while an industry report noted that the Co. surpassed Micron to become the world’s leading supplier of automotive memory chips last year.
- Hang Seng and Shanghai Comp were varied, with the mainland indecisive following mixed Chinese PMI data in which official Manufacturing PMI missed forecasts, but Non-Manufacturing PMI showed a surprise return to expansion territory, while RatingDog Manufacturing PMI topped forecasts. In addition, trade frictions linger as China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, while the State Council announced that new rules tightening the oversight of outbound investments in selected technologies will take effect on July 1st.
NOTABLE ASIA-PAC HEADLINES
- Japanese S&P Global Manufacturing PMI Final (May) 54.5 vs. Exp. 54.5 (Prev. 55.1).
- Australian S&P Global Manufacturing PMI Final (May) 50.7 vs. Exp. 50.2 (Prev. 51.3).
NOTABLE APAC DATA RECAP
- Indian HSBC Manufacturing PMI Final (May) 55.0 vs. Exp. 54.3.
- Chinese RatingDog Manufacturing PMI (May) 51.8 vs. Exp. 51.4 (Prev. 52.2).
- Chinese NBS General PMI (May) 50.5 (Prev. 50.1).
- Chinese NBS Non Manufacturing PMI (May) 50.1 (Prev. 49.4).
- Chinese NBS Manufacturing PMI (May) 50 (Prev. 50.3).
- Australian ANZ-Indeed Job Ads MoM (May) M/M 1.8% (Prev. -0.8%).
- Australian TD-MI Inflation Gauge MoM (May) M/M -0.3% (Prev. 0.6%).
- Korea (Republic of) S&P Global Manufacturing PMI (May) 54.8 (Prev. 53.6).
- Korea (Republic of) Exports YoY (May) Y/Y 53.2% vs. Exp. 48% (Prev. 48%).
- Korea (Republic of) Balance of Trade (May) 26.95B (Prev. 23.77B).
- Korea (Republic of) Imports YoY (May) Y/Y 20.8% vs. Exp. 16.7% (Prev. 16.7%).
- Japanese Capital Spending Ex. Software YoY (Q1) Y/Y -1.4% vs. Exp. 5.4% (Prev. 7.3%).
- Japanese Company Profits YoY (Q1) Y/Y 14.6% vs. Exp. 5.3% (Prev. 4.7%).
- Japanese Company Sales YoY (Q1) Y/Y 1.1% (Prev. 0.7%).
- Japanese Capital Spending YoY (Q1) Y/Y 0.0% vs. Exp. 4.0% (Prev. 6.5%)
1 c) Asian opening report
DXY and Crude firm as US-Iran deal remains elusive; Europe primed for modestly lower open despite APAC gains – Newsquawk EU Market Open
Monday, Jun 01, 2026 – 02:08 AM
- Trump sent tougher terms to Iran re. the peace framework, NY Times reported. Tasnim outlined that Iran could propose changes to the MOU.
- Crude lifted at the open as a deal remains elusive, WTI briefly surpassed USD 90/bbl.
- APAC stocks firmer as the Nikkei 225 and KOSPI hit fresh record highs on tech strength, mixed Chinese PMIs capped the region.
- DXY followed oil higher, EUR contained, USD/JPY rose, and AUD struggled after Chinese PMIs.
- Fixed benchmarks in the red given energy upside, JGBs hit on domestic stock strength.
- Looking ahead, highlights include Global Manufacturing Final PMIs (May), German Retail Sales (Apr), Swiss Retail Sales (Apr), GDP (Q1), EZ Unemployment Rate (Apr), US ISM Manufacturing (May), Atlanta Fed GDP, ECB Consumer Expectations Survey, and comments from ECB’s Schnabel.
- Click for the Newsquawk Week Ahead.
IRAN CONFLICT
- US President Trump reportedly sent tougher terms to Iran regarding the peace framework, according to officials cited by The New York Times.
- Iran may propose changes to the US peace draft memorandum of understanding, according to Tasnim. This follows a report that President Trump proposed further changes to the existing text, while a source stated that text exchanges continue and that Iran may submit its own edits.
- Iranian Foreign Minister Araghchi told state media that talks and message exchanges with the US are ongoing, and that the talks cannot be judged until a clear result is reached.
- US Central Command said military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island.
- IRGC said following the aggression of the US Army on a communication tower on Sirik Island, located in the Hormozgan province, fighters of the IRGC Aerospace Force targeted the airbase where the aggression originated and predicted that targets were destroyed.
- Kuwaiti Army said air defences were intercepting hostile missile and drone attacks.
- US President Trump’s meeting in the Situation Room on Friday lasted about two hours, but he did not reach a decision on any new deal with Iran, NYT reports citing a senior admin official. The official stated that the administration believes it is close to an agreement, but there are still certain matters being debated, including the unfreezing of funds for the Iranians.
- US Treasury Secretary Bessent said on Friday that there were three scenarios regarding Iran, which were a deal, no deal, or ‘kinetic’ action. Bessent said anything that is taken off will be taken off slowly, when asked about the blockade on Iran, but also commented that there is more they can do if they have to.
- Iranian Supreme Leader’s military adviser Mohsen Rezaei said Iran has no intention of yielding or compromising with the US and will not place itself in a weak position, while he also stated that US President Trump is betraying diplomacy for the third time by continuing a naval blockade on Iran and making excessive demands.
- Iran’s Presidential Office denied reports that Iranian President Pezeshkian submitted his resignation to the Supreme Leader, and stated that the stories were spread by some foreign media.
- Iranian missile attack on a Kuwaiti airbase late last week injured several Americans.
- Explosions were reported near Erbil in Iraq’s Kurdistan region.
- Air defence activity was reported on Friday near Iran’s Qeshm Island, according to Mehr News.
- US Secretary of State Rubio spoke in the last 48 hours with Lebanon’s President and Israel’s PM to try and promote a new ceasefire initiative, according to a senior US official cited by Axios’s Ravid. The new initiative was proposed as part of the negotiations taking place between Israel and Lebanon, as another round of talks between diplomats from both sides is scheduled to take place this week in Washington. Furthermore, the US proposed that as a first step, Hezbollah stop all attacks on Israel, and in return, Israel will refrain from escalation in Beirut.
- Israel expanded its ground assault in Lebanon for its broadest incursion into Lebanon in 25 years, while it stated that Hezbollah fired more than 300 projectiles at Israeli forces over the weekend.
- Israeli jets hit Al-Qatrani, Al-Mawahani and Bin Jabal in Lebanon, according to IRIB.
- Air raid sirens sounded in Kiryat Shmona and its surrounding area in northern Israel, while sirens also sounded in Tiberias and surrounding areas after rockets were launched from Lebanon.
US TRADE
EQUITIES
- US stocks continued to rise at the end of last week and were underpinned by geopolitical optimism. President Trump outlined demands for an Iran agreement, including a pledge never to develop nuclear weapons, immediate unrestricted access through the Strait of Hormuz, mine removal, and US excavation of enriched uranium stockpiles in coordination with Iran and the IAEA. However, Fars News, citing an informed source, called Trump’s nuclear claims “baseless,” said USD 12bln in frozen assets must be unfrozen before further talks, and confirmed no final decision has been reached in Tehran. Meanwhile, the President held a meeting in the Situation Room, which lasted approximately two hours, but no decision was reached on a new deal; the administration believes it is close to an agreement, with outstanding issues including the unfreezing of funds for Iran, NYT said. The news provoked some downside in equities and bonds, but stock traders quickly bought the dip, and the S&P 500 and Nasdaq 100 rallied into the close.
- SPX +0.24% at 7,582, NDX +0.36% at 30,333, DJI +0.72% at 51,033, RUT -0.53% at 2,922.
- Click here for a detailed summary.
TARIFFS/TRADE
- China’s State Council said new rules regarding China tightening the oversight of outbound investments in selected technologies will take effect on July 1st.
- China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, following a European Commission discussion on China policy last Friday.
NOTABLE HEADLINES
- Fed’s Powell (voter) warned that the Fed would lose credibility if the President removes officials over policy, while he said he will remain on the board, according to Barron’s.
- Fed’s Waller (voter) said the spread of stablecoins globally could broaden the reach of US monetary policy.
- Fed’s Daly (2027 voter) says barriers to getting sustained productivity growth from AI are largely regulatory, while she sees green shoots for productivity growth from AI, and doesn’t expect mass unemployment or displacement from AI.
- US President Trump posted regarding a New York Times article about an exodus of legal talent from the Trump administration, in which he commented that this is a good thing and many of the departing staffers are ‘Radical Left Deep State Lunatics’, while he added many of them did not leave but were fired.
APAC TRADE
EQUITIES
- APAC stocks began the new month predominantly in the green with the Nikkei 225 and KOSPI extending on fresh record highs amid tech-related strength and following a lack of any major geopolitical developments over the weekend, with a US-Iran peace agreement remaining elusive, while participants also got to digest mixed Chinese PMI data.
- ASX 200 traded rangebound with demand constrained as the strength in tech and miners is offset by underperformance in defensives, telecoms and real estate.
- Nikkei 225 rose to a fresh record high and briefly surpassed the 67,000 level for the first time amid tech strength, which saw SoftBank overtake Toyota as the largest Japanese company by market cap.
- KOSPI outperformed with index heavyweight Samsung Electronics rallying around 10% amid the tech momentum, while an industry report noted that the Co. surpassed Micron to become the world’s leading supplier of automotive memory chips last year.
- Hang Seng and Shanghai Comp were varied, with the mainland indecisive following mixed Chinese PMI data in which official Manufacturing PMI missed forecasts, but Non-Manufacturing PMI showed a surprise return to expansion territory, while RatingDog Manufacturing PMI topped forecasts. In addition, trade frictions linger as China vowed to resolutely retaliate if the EU proceeds with new restrictive trade measures, while the State Council announced that new rules tightening the oversight of outbound investments in selected technologies will take effect on July 1st.
- US equity futures gradually edged higher following a muted open in the aftermath of relatively quiet weekend newsflow.
- European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.3% after the cash market closed with losses of 0.1% on Friday.
FX
- DXY was marginally positive as higher oil prices spurred upside in yields and stoked inflationary pressures, which followed a lack of a breakthrough on a US-Iran peace agreement and with US President reportedly proposing tougher terms, while Iran was also said to consider proposing its own changes to the text. There were also later reports of recent tit-for-tat strikes between the US and Iran.
- EUR/USD traded rangebound and takes a breather after last Friday’s fluctuations, while ECB rhetoric remains hawkish with Schnabel noting that the risk of de-anchoring inflation expectations is rising and they can no longer look through the energy shock.
- GBP/USD eked slight gains in quiet trade across the FX space, while there were comments over the weekend from BoE’s Mann that the long run of good luck central bankers experienced in containing inflation has run out, with a more shock-prone era setting in.
- USD/JPY gradually climbed alongside higher oil prices and a firmer buck, albeit with the upside contained amid a lack of tier-1 data releases from Japan.
- Antipodeans lacked direction following mixed Chinese PMI data, while NZD/USD is subdued with participants in New Zealand away for a holiday.
FIXED INCOME
- 10yr UST futures fell back beneath the 110.00 level amid headwinds from the upside in oil.
- Bund futures extended its pullback from last week’s peak amid continued hawkish rhetoric from ECB officials, while participants also await a slew of PMI data and German Retail Sales.
- 10yr JGB futures conformed to the downside seen in global counterparts as oil prices stoked inflationary pressure, and with Japanese stocks extending on record levels.
COMMODITIES
- Crude futures climbed at the open, in which WTI tested the USD 90/bbl level to the upside as a US-Iran deal remained elusive, while President Trump reportedly sent tougher terms to Iran regarding the peace framework, and it was also reported that Iran may also propose changes to the US draft peace MoU.
- EU is mulling a temporary freeze on its Russian oil price amid the Middle East conflict, according to people familiar with the matter cited by Reuters.
- Spot gold trickled lower as silver sold off at the open, albeit with the downside in the yellow metal limited, as silver then staged a recovery to claw back all of its earlier losses and more.
- Copper futures edged higher amid the mostly positive risk sentiment across the region.
CRYPTO
- Bitcoin was indecisive with price action contained beneath the USD 74,000 level.
NOTABLE ASIA-PAC HEADLINES
- China signalled it would focus its policy regarding online platforms in balancing support for growth with enhanced regulatory oversight, according to a draft article in a Communist Party publication.
- Five workers were killed following the collapse of a mine in China’s Yunnan province on Sunday.
- India’s Finance Ministry said India needs to be vigilant on the inflation outlook in the country, just days ahead of the central bank’s 3-day monetary policy meeting.
DATA RECAP
- Chinese NBS Manufacturing PMI (May) 50.0 vs Exp. 50.2 (Prev. 50.3)
- Chinese NBS Non-Manufacturing PMI (May) 50.1 vs Exp. 49.5 (Prev. 49.4)
- Chinese Composite PMI (May) 50.5 (Prev. 50.1)
- Chinese RatingDog Manufacturing PMI (May) 51.8 vs. Exp. 51.4 (Prev. 52.2)
GEOPOLITICS
RUSSIA-UKRAINE
- Ukrainian President Zelensky said they believed Russia could launch a major assault during the weekend using drones, cruise missiles, and ballistic missiles.
- Ukraine’s Air Force said Russian guided bombs struck the Donetsk region and that drones were heading from Kharkiv to the Poltava region.
- IAEA experts inspected the Zaporizhzhia Nuclear Power Plant after Russia claimed the idled atomic facility was struck by a Ukrainian drone, while Ukraine also targeted a Russian refinery.
OTHER
- US, UK and Australia announced to further deepen AUKUS maritime ties through the development of advanced underwater drone systems.
- US Secretary of War Hegseth said the US, Japan and South Korea are deepening defence cooperation to ensure their combined forces remain lethal, prepared and capable of deterring aggression in the region. Hegseth reportedly sought to convince allies that the US should stay quiet on Taiwan and separately commented that a true friendship was developing between the US and Pakistan.
- South Korea said it will conduct joint search and rescue exercises at sea with Japan for the first time in nine years.
- Japan denounced an accusation by China that it was pursuing ‘new militarism’, with Japanese Defence Minister Koizumi stating that Tokyo was being unfairly called out for its actions to increase weapons spending. Furthermore, he feels sad that they were not able to meet his Chinese counterpart at the Shangri-La dialogue in Singapore, but stated that Japan’s door is always open.
- China Coast Guard says it conducted law enforcement patrols in the waters east of Taiwan in response to Japan and the Philippines demarcation talks.
- China ordered a New York Times journalist earlier this year to leave the country due to an interview with Taiwan President Lai, while Taiwan condemned the expulsion.
EU/UK
NOTABLE HEADLINES
- Former UK Health Secretary and potential leadership contender Wes Streeting flagged the idea of lowering employers’ national insurance and favours new North Sea oil drilling.
- BoE’s Mann said the long run of good luck central bankers experienced in containing inflation has run out with a more shock-prone era setting in.
- ECB’s Pereira said the central bank shouldn’t hesitate to act and thinks that it is better to act sooner rather than later, so that they don’t have much greater second-order effects later on.
- ECB Schnabel said the supply shock is seen as large and highly persistent, while she added that oil prices are expected to stay elevated for some time, and it is likely for the energy shock to feed into broad inflation. Schnabel also stated that the risk of de-anchoring inflation expectations is rising, and they can no longer look through the energy shock.
- ECB’s Vujcic said Croatia’s inflation is likely to ease in May after accelerating to the fastest annual pace in the euro area of 5.8% in April.
- S&P confirmed France’s sovereign rating at A+; Outlook Stable, according to French Finance Minister Lescure.
- SoftBank pledged to spend at least USD 52bln on building a network of data centres in France as it seeks to deliver as much as 3.1 gigawatts of computing capacity in the country by 2031, according to WSJ.
2.NORTH AND SOUTH KOREA AND JAPAN
JAPAN
Japan Crude Imports Fall 66% To Record Low
Friday, May 29, 2026 – 06:25 PM
By Tsvetana Paraskova of OilPrice.com
Amid the supply disruption in the Middle East, Japan’s crude oil imports crashed by 66% in April from the same month last year, dropping to an all time low, official Japanese data showed on Friday.
Japan imported 4.07 million kilolitres, or about 850,000 barrels per day (bpd), of crude oil last month, down by 65.7% from the April 2025 levels, the monthly petroleum statistics of the Ministry of Economy, Trade and Industry (METI) showed.
Crude imports from the Middle East region, which delivered more than 90% of Japan’s total crude imports before the war, plunged by 68% in April from a year earlier.
Japan’s imports from Saudi Arabia crashed by nearly 58%, and supply from the United Arab Emirate (UAE) to Japan plunged by 69.4%, the Japanese government data showed. Of the total severely reduced crude supply, the Middle East continued to account for more than 90% of Japanese crude imports, at 93.7% in April.
Japan in April imported the lowest volume of crude oil from the Middle East on record dating back to 1979 as the Iran war and the de facto closure of the Strait of Hormuz choked supply from the region.
Japan’s crude imports from the Middle East plummeted by 67.2% in April compared to the same month of 2025, provisional trade data from Japan’s Finance Ministry showed last week. The April 2026 volume, estimated in Japan at 3.843 million kiloliters of crude oil, was the lowest since data collection began in 1979.
Japan has just welcomed the first shipment of Middle East crude via the Strait of Hormuz since the Iran war began on February 28.
Japan is also releasing crude from its strategic reserves as part of an IEA-coordinated global effort to release 400 million barrels of crude and oil products.
The ongoing oil stocks release, which is Japan’s biggest ever, is helping Japanese refiners increase throughput. So is alternative supply from producers outside the Middle East, including rare cargoes from Azerbaijan and Latin America.
END
3 CHINA
CHINA/USA
US Officials Suspect Iran Used Chinese Missile To Bring Down F-15E Warplane: Report
Sunday, May 31, 2026 – 10:10 PM
US officials believe that a Chinese-made shoulder-fired missile was likely used by Iranian forces to shoot down a US F-15E Strike Eagle over southwestern Iran last month, NBC News reported Saturday.
The incident marks the first time in decades that the US has had to acknowledge that one of its jets was shot down by enemy fire, although three F-15Es were also shot down in Kuwait in March.
Washington insists the Kuwait incident was due to ‘friendly fire,’ even as Iran claims responsibility.
Following the downing of the F-15E in southwestern Iran, the Pentagon allegedly launched a two-day rescue operation to recover the aircraft’s two-man crew, whose names and photos have not yet been made public.
While US officials continue to investigate the specifics of the shootdown, intelligence sources suggest that Beijing may also have provided Tehran with an advanced, long-range early-warning radar, the YLC-8B, designed to track stealth aircraft.
US President Donald Trump previously said that Chinese President Xi Jinping had personally “promised” him that Beijing would not supply military hardware to Iran, adding, “That’s a beautiful promise. I take him at his word. I appreciated it.”
However, reports of Chinese-manufactured man-portable air defense systems, or Manpads, being found on the battlefield have raised questions about those assurances.
In response to the allegations, the Chinese Embassy in Washington issued a statement rejecting the claims as “groundless smear and ill-intentioned association,” saying that “China always acts prudently and responsibly on the export of military products,” in accordance with international regulations.
Recent US intelligence indicates that Beijing might be planning to supply more air defense weapons to Iran soon.
While China has historically provided an economic lifeline and dual-use technology to Iran, US officials noted that previous assistance has not had a “decisive operational impact” on the current conflict.. CHINA/
END
4. EUROPEAN AND SCANDINAVIAN COMMENTARIES PLUS NATO
UK
ONLY 5% OF HOMES IN THE UK HAVE AIRCONDITIONING:
The Case For Air Conditioning Is Growing In Britain
Saturday, May 30, 2026 – 07:35 AM
A recent spell of extreme heat has intensified debate over whether UK homes should be designed with built-in cooling systems, according to FT.
Air conditioning remains uncommon in Britain, with fewer than 5% of homes equipped with it, reflecting a long-standing view that cooling is a luxury rather than a necessity.
FT writes that current building standards favor passive methods of controlling indoor temperatures, such as insulation, shading, and natural ventilation. Developers generally prioritize these measures, arguing they are more energy-efficient and better aligned with environmental goals. Concerns about the cost of installation, higher electricity consumption, and pressure on the power grid have also limited the adoption of air conditioning in new developments.
However, rising temperatures are challenging this approach. Critics argue that passive measures become less effective during severe heatwaves, particularly in modern, well-insulated buildings that can trap heat indoors. Climate experts have warned that a significant share of the UK’s housing stock may require some form of active cooling as temperatures continue to rise.
Consumer attitudes appear to be shifting as hotter summers become more common. Demand for air conditioning has increased among homeowners, tenants, and landlords, while installers report surging enquiries during periods of extreme heat. Yet retrofitting existing properties remains difficult due to high costs and planning restrictions, especially in older buildings.
As climate change increases the frequency and intensity of heatwaves, the question is no longer whether overheating is a problem, but how homes can be adapted to remain comfortable while balancing energy efficiency and sustainability.
Meanwhile, as Bloomberg notes, the heat is also creating new challenges for people who work remotely. With temperatures reaching record levels for May in London, companies that install air-conditioning systems report a sharp rise in inquiries and bookings.
The issue reflects a wider mismatch between the UK’s housing stock and a changing climate. Most homes were built to conserve heat during winter, not to cope with extended periods of extreme warmth. Despite rising temperatures, fixed air conditioning remains uncommon, leaving many households dependent on fans or portable cooling units.
For residents, the consequences are increasingly disruptive. Some workers are abandoning home offices in favor of air-conditioned workplaces, while others describe sleepless nights, overheated apartments, and difficulty focusing during the day. Even getting to the office offers limited relief, as much of London’s Underground network still operates without air conditioning.
The debate reflects a broader challenge facing Britain as it adapts to a warmer climate. While concerns about energy use and sustainability remain valid, increasingly frequent heatwaves are forcing policymakers, developers, and homeowners to reconsider what constitutes a comfortable and resilient home.
Britain is finding that as temperatures continue to rise, cooling may become less of a luxury and more of a practical requirement for modern living.
END
FRANCE/PARIS
RIOTERS
PARIS ON FIRE!!
END
FRANCE
Le Pen Leads Every Major Rival In New French Presidential Runoff Polling
Sunday, May 31, 2026 – 07:00 AM
Authored by Thomas Brooke via Remix News,
Marine Le Pen would beat every major rival in a second-round French presidential election runoff, according to new polling that hypothesized her eligibility to stand in the election expected in April next year.
A Toluna-Harris Interactive poll for M6 and RTL, conducted on May 27, found Le Pen ahead in all three tested runoff scenarios when she is the National Rally candidate.
The strongest result came against far-left leader Jean-Luc Mélenchon, with Le Pen taking 67 percent to his 33 percent. She also defeated former Prime Minister Gabriel Attal by 54 percent to 46 percent, and former Prime Minister Edouard Philippe by 52 percent to 48 percent.
The figures are significant because Philippe and Attal are among the most prominent names in the broader Macron-aligned camp, which has long presented itself as the main barrier to a National Rally victory. Le Pen has twice lost runoff elections to Macron, back in 2017 and 2022.
Yet the poll suggests that even the strongest establishment contenders would currently fall short against Le Pen in a head-to-head vote.
Le Pen is currently barred from running after being handed an immediate five-year ban from public office, but she has appealed the ruling. A decision on that appeal is expected on July 7. Should she remain unable to run, National Rally president Jordan Bardella is widely expected to become the party’s presidential candidate.
That would still leave National Rally in a commanding position. Earlier polling this week showed Bardella leading the first round with 32 percent, well ahead of Philippe on 17 percent and Mélenchon on 16 percent. The same May Odoxa political barometer also showed Bardella beating Philippe in a second-round runoff by 52 percent to 48 percent, reversing the result recorded two months earlier, when Philippe had led by the same margin.
Taken together, the surveys point to a deepening problem for France’s centrist and left-wing parties. Whether the candidate is Le Pen or Bardella, the National Rally is now polling not merely as a first-round protest vehicle, but as a party capable of winning the presidency outright.
If Le Pen’s appeal succeeds, she would enter the race as the most formidable candidate in the field. If it fails, Bardella would inherit a political landscape in which the National Rally brand is already ahead of its most likely rivals.
On Friday, Le Pen announced her intention, should the National Rally win the presidency, to offer the French public a referendum on mass immigration.
“The French people have been betrayed. In 2027, we will restore a democratic vitality to France by returning power to the people,” she wrote on X.
END
GERMANY
65,000 Small German Retail Stores Have Disappeared As Economic Downturn Hits Europe’s ‘Powerhouse’
Monday, Jun 01, 2026 – 03:30 AM
The number of small retail stores in Germany has declined drastically since 2010. According to a recent analysis by the credit agency Creditreform and the Handelsblatt Research Institute, there were 236,143 small retail stores with annual sales of less than €250,000 in 2010. For 2025, the sales tax statistics show only 170,770 such stores, a drop of 28 percent, reports Junge Freiheit.
Across all size categories, the number of stores shrank by only 16 percent during the same period, meaning the smaller, owner-operated players are being hit far harder. Small and medium-sized enterprises have been left with barely any financial reserves, a bad sign for the country’s battle with continuous bankruptcies.
According to the report, just over 316,000 retail stores overall remain. The German Retail Federation (HDE) warns that the number of stores could drop below 300,000 in 2026, threatening the vitality of city centers.
“The retail sector is among the fastest-shrinking sectors of the German economy,” Creditreform states in its report, with specialty stores in city centers, on side streets, and in shopping malls affected the most. Creditreform economist Patrik-Ludwig Hantzsch points to a combination of factors: inflation, consumer weakness, rising operating costs, and increasing competitive pressure.
In 2025, 2,440 retailers went bankrupt — a 9 percent increase increase over 2024— with fashion stores, bookstores, and bakeries particularly affected.
HDE President Alexander von Preen argues that politicians should lower energy costs and payroll taxes, while landlords should adopt more flexible, revenue-based rents to reduce vacancies.
Research from the Institute for Retail Research in Cologne shows that empty storefronts damage city centers by discouraging visitors, weakening city image, reducing foot traffic, and causing financial losses for municipalities and nearby businesses.
At the same time, non-food discount chains such as Action, Tedi, Hema, Woolworth, and Thomas Philipps are gaining market share in household goods, toys, stationery, and other categories. An IfH survey found that 85 percent of Germans have shopped at such stores in the past two years.
Creditreform says cities and retailers must adapt.
Traditional shopping-focused city centers are no longer effective in many areas, so cities should better combine shopping, leisure, dining, and living spaces. Small retailers are encouraged to focus on specialization, customer service, digital presence, and unique shopping experiences to remain competitive.
But with these changes, much of the identity of cities may be threatened.
“With the decline of smaller specialist retailers, many city centers are losing their distinctiveness and thus their heart,” says HDE CEO Stefan Genth.
With Germany battling an overburdened social system, surging federal deficit, soaring energy prices, and a massive spike in crime and costs due to migration, the choice of retailers in city centers may be the least of its problems. And yet, this barometer pays testament to all the rest.
END
5. RUSSIAN AND MIDDLE EASTERN AFFAIRS//
ISRAEL/USA VS IRAN//FRIDAY EVENING
and this is a ceasefire!!!
Intercepted Iranian Missile Injures 5 Americans At Kuwaiti Air Base; Tehran Identifies Two Key MOU Sticking Points
Saturday, May 30, 2026 – 12:25 AM
Summary
- Iran is pushing forward legislation formalizing control/management of Hormuz Strait shipping, which flies in the face of Trump warnings & conditions.
- An Iranian Fateh-110 short-range ballistic missile targeted Kuwait’s Ali Al Salem Air Base, a key operational hub for the U.S. Air Force. BBG says missile intercepted, but falling debris struck part of the base, injuring five Americans.
- Two more American drones reported destroyed or damaged in the Kuwait base attack (DropSite/BBG).
- Iran says two big MOU agreement issues remain & are not finalized: Unfreezing of Assets & Sanctions, Nuclear File
this is a no go!!
Iran Moves to ‘Legalize/Formalize’ Management Of Hormuz Strait
A Saturday message and warning from Iran’s Khatam al-Anbiya Central Headquarters via Al Jazeera: “The management of the Strait of Hormuz is exercised with full authority by the Armed Forces of the Islamic Republic of Iran.” It added that “all ships, commercial vessels and tankers are only required to travel through the designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy.”
So despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.
State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.
According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan. He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”
Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”. The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.
More Reported US Drones Destroyed
Reports of more MQ-9 Reaper damage or destruction have emerged; however, the Pentagon has not verified this, and is not expected to. This along with the past week of ‘live-fire’ tit-for-tat incidents suggests an escalating situation, even as the warring sides try to get back to the peace negotiations table. It looks like it could be related to the Saturday missile attack on a US base in Kuwait, but details are murky. Per DropSite:
MOU Holdup: The Sticking Points
Some latest commentary on where things stand via Al Jazeera… the key issues:
- Unfreezing of Assets & Sanctions
- Nuclear File
“So far, there is no timeframe. However, we know that the negotiations are still continuing. The agreement, according to Iranian officials here, is not finalised yet. Proposals and messages are being exchanged through Pakistani mediators and some other regional players as well,” the report says. Per AJ:
The Iranians, while saying that it is not finalised, have largely agreed on many items. However, there are still some sticking points.
Finally, the Iranians are quite clear at this stage. They are saying that they are not discussing the nuclear file or nuclear programme unless confidence-building measures are put in place. Only if the first phase is successful will they be open to discussing their nuclear programme.
These confidence-building measures have been precisely identified as the unfreezing of billions in assets held aborad.
New Iranian Attack on US Base in Kuwait
An Iranian Fateh-110 short-range ballistic missile targeted Kuwait’s Ali Al Salem Air Base, a key operational hub for the U.S. Air Force’s expeditionary forces in the Gulf region. An initial report from Bloomberg News indicates that Kuwaiti air defenses intercepted the tactical ballistic missile in the last 24 hours, but falling debris struck part of the base, injuring five Americans and damaging one MQ-9 Reaper drone while severely damaging another.
About five people, including both contractors and active duty personnel, suffered minor injuries, the person said. One Reaper was destroyed and at least one other was seriously damaged. -BBG
News of the strike on ASAB, where the 386th Air Expeditionary Wing under U.S. Air Forces Central acts as a forward logistics, airlift, and combat-power gateway for the broader CENTCOM theater, comes as the US and Iran on Friday reached a tentative memorandum of understanding to extend a ceasefire by 60 days and restart nuclear negotiations. However, the proposal still requires final approval from President Trump, according to U.S. officials cited by Fox News.
Treasury Secretary Scott Bessent also indicated yesterday that Washington is maintaining maximum leverage, saying sanctions relief will remain off the table unless Tehran reopens the Hormuz chokepoint, transfers highly enriched uranium, and accepts that it cannot maintain a nuclear program. Meanwhile, Secretary of War Pete Hegseth attended the Shangri-La Dialogue in Singapore overnight, where he said the US military is prepared to resume strikes against Iran if negotiations over the nuclear program collapse.
“Any deal will be a good one. A great one,” Hegseth said Trump told him. “And if Iran doesn’t want to make a great deal that ensures they don’t get a nuclear weapon, they can deal with the guy on my left,” he added, referring to the War Department. “We are more than capable,” Hegseth noted in reference to a renewed military strike against Tehran. “Our stockpiles are more than suited for that, both there and around the globe.”
Hegseth’s remarks came just hours after Trump met with officials in the White House Situation Room to discuss the next phase of negotiations with Iran. “The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon,” a White House official said in a statement issued late Friday.
MOU Not Finalized, Tehran Confirms
Iran’s Foreign Ministry commented on the memorandum of understanding between the two nations, stating that nothing has been finalized yet.
News of progress toward a peace deal comes as energy experts warn of an energy cliff that could emerge as soon as next month if the Hormuz chokepoint remains closed. It’s clear that inventories, floating storage, rerouted cargoes, emergency substitutions, and rationing have absorbed the initial shock of lost Gulf-area crude, offsetting the roughly 10 million barrels of oil that weren’t reaching their intended destinations each day. Additionally, daily headlines have pushed Brent crude futures to $91 per barrel by Friday afternoon.
But as we’ve warned, if the Hormuz chokepoint doesn’t reopen in the near term, crude oil could soon be aggressively repriced higher, as those inventories are being drained at an alarming rate.
Latest on the energy market:
- UBS Warns Of “Scary” Oil Price Scenarios Once Inventory Buffers Run Dry
- “Approaching Unheard Of Inventory Levels”: Exxon, Chevron Issue Apocalyptic Warning About What Happens Next To Oil
- ‘Tank Bottoms’ Loom At Cushing After Across-The-Board Inventory Draws, Another Huge SPR Drain
Latest Bloomberg headlines:
US Naval Blockade
- The US continues its blockade of Iranian vessels, with the US Central Command attempting to stop Iranian vessels seeking to pass through the blockaded area by issuing warnings along the blockade line.
- US blockade of the Strait of Hormuz is still in place as of Saturday morning.
Iranian Missile Attacks
- An Iranian ballistic missile strike on Kuwait’s Ali Al Salem Air Base within the past 24 hours caused minor injuries to several Americans and seriously damaged two MQ-9 Reaper strike drones.
- Kuwaiti air defenses intercepted the Fateh-110 missile, but falling debris struck the air base.
Ceasefire Negotiations
- The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss Tehran’s nuclear program, but President Trump has yet to agree to the terms.
- Trump left a two-hour Situation Room meeting on Friday without deciding on the possible deal, despite earlier suggesting an agreement was near.
- Defense Secretary Pete Hegseth said Saturday that the US is ready to restart attacks on Iran if a deal cannot be reached.
Strait of Hormuz Transit
- Iran state TV reports that 2 ships have crossed the Strait of Hormuz in the past 24 hours.
- The US affirmed that deals with Iran to sail through the Strait of Hormuz safely are prohibited, regardless of whether a payment is made.
- Several vessels transiting through the Strait of Hormuz have been attacked in recent days, according to the Chevron CEO.
- Qatar opposes permanent legal fees for transit through the Strait of Hormuz, but a temporary fee for mine-clearing purposes is negotiable.
Polymarket:
https://embed.polymarket.com/market?market=strait-of-hormuz-traffic-returns-to-normal-by-june-15&height=300Strait of Hormuz traffic returns to normal by June 15?
Yes 8% · No 93%
View full market & trade on Polymarkethttps://embed.polymarket.com/market?market=us-x-iran-permanent-peace-deal-by-june-7-2026&height=300US x Iran permanent peace deal by June 7, 2026?
Yes 14% · No 86%
View full market & trade on Polymarket
The clock is ticking for a deal to avert an energy cliff that top energy experts warn is near.
end
SATURDAY
Iran Poised To Finalize Hormuz Strait Management Plan, Brushing Aside Trump’s Threats
Saturday, May 30, 2026 – 11:05 AM
Iran’s state Tasnim is saying the US naval blockade remains in effect, despite days of headlines of a ‘finalized’ US-Iran deal, which were clearly premature – though both sides still signal they are close to agreeing on a Memorandum of Understanding. But this is toward simply extending the ceasefire by 60-days in order to get back to the table, in hopes of finally ending the war based on a final deal.
Despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.
State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.
According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan.
He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”
Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”.
The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.
President Trump has sternly warned against the Islamic Republic and Oman teaming up to assert control over the strait. As a reminder, during a Wednesday televised cabinet meeting he said as follows:
“No, the strait’s got to be open to everybody; it’s international waters,” the president told reporters. “We’ll watch over it, but nobody’s going to control it. That’s part of the negotiation that we have.”
“They would like to control it; nobody’s going to control it. It’s international waters,” he continued. “And Oman will behave just like everybody else, or we’ll have to blow ’em up. They understand that. They’ll be fine.”
In the wake of this, Iran has been expressing solidarity with Oman. As reported in The Hill:
Iran reupped its backing for Oman on Thursday, after President Trump warned the latter nation to “behave” or face consequences.
Iranian Foreign Ministry spokesperson Esmail Baghaei said in a statement that Iran would support the Gulf nation, which is separated from Iran by the Strait of Hormuz, against U.S. threats, Reuters reported. He also criticized recent strikes in Bandar Abbas, a southern port city.
The irony in all of this is that Oman has long been an American ally in the region, though is also often called the “Switzerland of the Middle East” for its diplomatic and mediatory role in regional disputes.
Despite generally positive relations with Washington going back years and even decades, US Treasury Secretary Scott Bessent chastized Oman, stating on X Thursday: “The United States Government will not tolerate any effort to impose a tolling system in the Strait of Hormuz.”
“Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalized,” Bessent stated. “All nations should reject outright any efforts by Iran to disrupt the free flow of commerce. Tehran’s days of terrorizing the region and the world are over.”
end
ISRAEL/USA VS IRAN/SATURDAY MORNING
pray tell!! how could there ever be a deal?
Iran Poised To Finalize Hormuz Strait Management Plan, Brushing Aside Trump’s Threats
Saturday, May 30, 2026 – 11:05 AM
Iran’s state Tasnim is saying the US naval blockade remains in effect, despite days of headlines of a ‘finalized’ US-Iran deal, which were clearly premature – though both sides still signal they are close to agreeing on a Memorandum of Understanding. But this is toward simply extending the ceasefire by 60-days in order to get back to the table, in hopes of finally ending the war based on a final deal.
Despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.
State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.
According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan.
He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”
Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”.
The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.
President Trump has sternly warned against the Islamic Republic and Oman teaming up to assert control over the strait. As a reminder, during a Wednesday televised cabinet meeting he said as follows:
“No, the strait’s got to be open to everybody; it’s international waters,” the president told reporters. “We’ll watch over it, but nobody’s going to control it. That’s part of the negotiation that we have.”
“They would like to control it; nobody’s going to control it. It’s international waters,” he continued. “And Oman will behave just like everybody else, or we’ll have to blow ’em up. They understand that. They’ll be fine.”
In the wake of this, Iran has been expressing solidarity with Oman. As reported in The Hill:
Iran reupped its backing for Oman on Thursday, after President Trump warned the latter nation to “behave” or face consequences.
Iranian Foreign Ministry spokesperson Esmail Baghaei said in a statement that Iran would support the Gulf nation, which is separated from Iran by the Strait of Hormuz, against U.S. threats, Reuters reported. He also criticized recent strikes in Bandar Abbas, a southern port city.
The irony in all of this is that Oman has long been an American ally in the region, though is also often called the “Switzerland of the Middle East” for its diplomatic and mediatory role in regional disputes.
Despite generally positive relations with Washington going back years and even decades, US Treasury Secretary Scott Bessent chastized Oman, stating on X Thursday: “The United States Government will not tolerate any effort to impose a tolling system in the Strait of Hormuz.”
“Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalized,” Bessent stated. “All nations should reject outright any efforts by Iran to disrupt the free flow of commerce. Tehran’s days of terrorizing the region and the world are over.”
ISRAEL/USA VS IRAN/SATURDAY AFTERNOON
Intercepted Iranian Missile Injures 5 Americans At Kuwaiti Air Base; Tehran Identifies Two Key MOU Sticking Points
Saturday, May 30, 2026 – 12:25 AM
Summary
- Iran is pushing forward legislation formalizing control/management of Hormuz Strait shipping, which flies in the face of Trump warnings & conditions.
- An Iranian Fateh-110 short-range ballistic missile targeted Kuwait’s Ali Al Salem Air Base, a key operational hub for the U.S. Air Force. BBG says missile intercepted, but falling debris struck part of the base, injuring five Americans.
- Two more American drones reported destroyed or damaged in the Kuwait base attack (DropSite/BBG).
- Iran says two big MOU agreement issues remain & are not finalized: Unfreezing of Assets & Sanctions, Nuclear File
* * *
Iran Moves to ‘Legalize/Formalize’ Management Of Hormuz Strait
A Saturday message and warning from Iran’s Khatam al-Anbiya Central Headquarters via Al Jazeera: “The management of the Strait of Hormuz is exercised with full authority by the Armed Forces of the Islamic Republic of Iran.” It added that “all ships, commercial vessels and tankers are only required to travel through the designated routes and obtain permission from the Islamic Revolutionary Guard Corps Navy.”
So despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.
State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.
According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan. He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”
Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”. The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.
More Reported US Drones Destroyed
Reports of more MQ-9 Reaper damage or destruction have emerged; however, the Pentagon has not verified this, and is not expected to. This along with the past week of ‘live-fire’ tit-for-tat incidents suggests an escalating situation, even as the warring sides try to get back to the peace negotiations table. It looks like it could be related to the Saturday missile attack on a US base in Kuwait, but details are murky. Per DropSite:
MOU Holdup: The Sticking Points
Some latest commentary on where things stand via Al Jazeera… the key issues:
- Unfreezing of Assets & Sanctions
- Nuclear File
“So far, there is no timeframe. However, we know that the negotiations are still continuing. The agreement, according to Iranian officials here, is not finalised yet. Proposals and messages are being exchanged through Pakistani mediators and some other regional players as well,” the report says. Per AJ:
The Iranians, while saying that it is not finalised, have largely agreed on many items. However, there are still some sticking points.
Finally, the Iranians are quite clear at this stage. They are saying that they are not discussing the nuclear file or nuclear programme unless confidence-building measures are put in place. Only if the first phase is successful will they be open to discussing their nuclear programme.
These confidence-building measures have been precisely identified as the unfreezing of billions in assets held aborad.
New Iranian Attack on US Base in Kuwait
An Iranian Fateh-110 short-range ballistic missile targeted Kuwait’s Ali Al Salem Air Base, a key operational hub for the U.S. Air Force’s expeditionary forces in the Gulf region. An initial report from Bloomberg News indicates that Kuwaiti air defenses intercepted the tactical ballistic missile in the last 24 hours, but falling debris struck part of the base, injuring five Americans and damaging one MQ-9 Reaper drone while severely damaging another.
About five people, including both contractors and active duty personnel, suffered minor injuries, the person said. One Reaper was destroyed and at least one other was seriously damaged. -BBG
News of the strike on ASAB, where the 386th Air Expeditionary Wing under U.S. Air Forces Central acts as a forward logistics, airlift, and combat-power gateway for the broader CENTCOM theater, comes as the US and Iran on Friday reached a tentative memorandum of understanding to extend a ceasefire by 60 days and restart nuclear negotiations. However, the proposal still requires final approval from President Trump, according to U.S. officials cited by Fox News.
Treasury Secretary Scott Bessent also indicated yesterday that Washington is maintaining maximum leverage, saying sanctions relief will remain off the table unless Tehran reopens the Hormuz chokepoint, transfers highly enriched uranium, and accepts that it cannot maintain a nuclear program. Meanwhile, Secretary of War Pete Hegseth attended the Shangri-La Dialogue in Singapore overnight, where he said the US military is prepared to resume strikes against Iran if negotiations over the nuclear program collapse.
“Any deal will be a good one. A great one,” Hegseth said Trump told him. “And if Iran doesn’t want to make a great deal that ensures they don’t get a nuclear weapon, they can deal with the guy on my left,” he added, referring to the War Department. “We are more than capable,” Hegseth noted in reference to a renewed military strike against Tehran. “Our stockpiles are more than suited for that, both there and around the globe.”
Hegseth’s remarks came just hours after Trump met with officials in the White House Situation Room to discuss the next phase of negotiations with Iran. “The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon,” a White House official said in a statement issued late Friday.
MOU Not Finalized, Tehran Confirms
Iran’s Foreign Ministry commented on the memorandum of understanding between the two nations, stating that nothing has been finalized yet.
News of progress toward a peace deal comes as energy experts warn of an energy cliff that could emerge as soon as next month if the Hormuz chokepoint remains closed. It’s clear that inventories, floating storage, rerouted cargoes, emergency substitutions, and rationing have absorbed the initial shock of lost Gulf-area crude, offsetting the roughly 10 million barrels of oil that weren’t reaching their intended destinations each day. Additionally, daily headlines have pushed Brent crude futures to $91 per barrel by Friday afternoon.
But as we’ve warned, if the Hormuz chokepoint doesn’t reopen in the near term, crude oil could soon be aggressively repriced higher, as those inventories are being drained at an alarming rate.
ISRAEL/IRAN/USA/sunday
Trump Toughens Terms Of Iran Deal Framework, As Bessent Pinpoints Tehran’s ‘Big Mistake’
Sunday, May 31, 2026 – 03:10 PM
Summary
- NYT on Sunday: President Trump has toughened the terms of a potential framework for a deal to end the war in Iran.
- Washington seeks to ratchet pressure, but Tehran still not budging on issue of remaining nuclear material.
- Bessent describes the “big mistake” Iran made to Fox – attacking its neighbors & losing friends; also says of the Iranians “they’re going to have to start taking down the wells.“
- Israeli PM Netanyahu says he has “instructed the Israeli military to expand the maneuver in Lebanon” after the occupation of the strategic Beaufort Castle, which he says marks “a dramatic change” in Israel’s operations.
* * *
Trump Toughens the Terms of Potential Deal
Fresh Sunday reporting in the NY Times says President Trump has responded to Iran’s refusal to budge on giving up its nuclear material by tightening US conditions as part of a Memorandum of Understanding to get back to the peace negotiating table.
“President Donald Trump has toughened the terms of a potential framework for a deal to end the war in Iran, and has sent those proposed changes back to Iran for consideration, according to three officials,” NY Times writes, but didn’t disclose what the precise changes are.
The report then speculates on where these changes likely focus: “Trump has been concerned about parts of the potential deal that would include unfreezing funds for the Iranians, two officials said.”
Citing frustration at the slow pace of Iran’s response to the proposals, it adds, “He has been harshly critical of President Barack Obama for doing the same in the more than decade-old agreement that was signed to curtail Iran’s nuclear program.”
Tightening the proposals is meant to ratchet up the pressure and ‘force’ the Islamic Republic to respond quicker and agree to a deal. However, the Iranians have time and again rejected being ‘dictated to’ by Washington, as its top negotiator Ghalibaf spelled out days ago.
Meanwhile there’s been a recent change in tone when talking about Iran’s military, from Trump himself:
Iran Still Not Budging on Nuclear File
This also comes after a two-hour Friday Situation Room meeting Friday wherein it became clear there was no deal yet to be finalized. According to more from the Times:
The official added that Trump’s changes — a new, tougher proposal — were potentially intended to speed up the process by putting pressure on Iran to accept the framework already sent to Iran’s supreme leader, Mojtaba Khamenei, for approval.
Reaching the supreme leader has been difficult, so any changes to the document, known as the memorandum of understanding, could mean additional delays.
But for pressure to work, there has to be signs Iranian leaders are getting nervous or desperate – and so far they’ve not urged Washington or Pakistani mediators for some kind of grand compromise. Instead they’ve repeatedly sworn that Iran’s highly enriched uranium will never be transferred to the possession of the United States.
Iran Decries Constant False ‘Speculation’
The Sunday latest from Iran’s Foreign Ministry:
Iran’s Foreign Minister, Abbas Araghchi, says “dialogue and an exchange of messages are ongoing” with the United States amid stalled negotiations.
He told Iranian news agency IRNA that “it is not possible to judge until a clear conclusion is reached; everything that is being said now is speculation and should not be taken seriously until it is certain”.
Bessent: Iran’s ‘Big Mistake’
Still, US Treasury Secretary Scott Bessent is busy on the Sunday news shows talking tough. He told Fox in a new interview that Iran made a “big mistake” by attacking its neighbors in the Persian Gulf, within the past week. A US base in Kuwait was also reportedly just attacked by a ballistic missile, which was reportedly intercepted – but falling debris injured five US personnel.
“We had many very good allies who maybe weren’t completely transparent with us on the money — Iranian money that was in their banking systems — all of a sudden became very compliant in terms of being willing to turn over accounts or help us freeze block accounts,” Bessent told Fox News.
“And then the third part was the incredible blockade. I really think it’s the economic blockade of funds and the physical blockade of the ships not going in or out of the Iranian ports,” he added. “Kharg Island is shut down. That’s their big oil loading facilities, and that means that they’re going to have to start taking down the wells,” Bessent said. And yet, there’s nothing officially disclosed to show this is actually happening – though the Iranians have no incentive to publicize it. But time will tell.
IDF Plunges Deep into Lebanon, Captures Crusader Castle
Some Lebanon war latest, via Al Jazeera, as ceasefire unravels:
- Israeli Prime Minister Benjamin Netanyahu says he has “instructed the Israeli military to expand the maneuver in Lebanon” after the occupation of the strategic Beaufort Castle, which he says marks “a dramatic change” in Israel’s operations.
- The Israeli military claims to have killed 900 Hezbollah “terrorists” since the start of the “ceasefire” on April 16. It added that the army had struck dozens of Hezbollah sites since this morning.
- Lebanese Prime Minister Nawaf Salam has accused Israel of pursuing a “scorched-earth policy” as Israeli forces expand their ground invasion.
- END
ISRAEL/USA IRAN/MONDAY MORNING
It sure looks like there will not be a deal as both sides dig in.
(zerohedge)
IRGC Launches New Strikes On Kuwait After US Attacks: “Until The Last American Soldier Leaves”
Monday, Jun 01, 2026 – 08:05 AM
Summary
- Iran overnight initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch.
- The US bombed radar & drone sites in Iran in response to the Iranians having shot down a US drone over the weekend. Reports of foreign jets over Iranian airspace.
- Iran negotiator Ghalibaf charges US with breaking the ceasefire: “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.”
- Yemen’s Houthis warn they are ready to join Hezbollah’s military efforts against Israel.
- Trump Truth Social: “Just sit back and relax, it will all work out well in the end – it always does!”
* * *
CENTCOM: Intercepted Pair of Ballistic Missiles on Base
On Monday morning US Central Command issued its official statement and explanation over the earlier tit-for-tat brief flare-up in fighting, which appears to have ended…
“Last night at 11 p.m. ET, U.S. forces successfully intercepted two Iranian ballistic missiles targeting American forces based in Kuwait. These missiles were immediately defeated and no American personnel were harmed,” it said. “U.S. Central Command remains vigilant and will continue to protect our forces from Iranian aggression while supporting the ongoing ceasefire.”
Fresh Missiles on Kuwait
The extended US-Iran ceasefire is once again being severely tested, after Iran earlier in the daylight hours of Monday initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch. Kuwait in turn confirmed that has been intercepting inbound drone and missile fire.
It hosts a major American base, which is again being targeted, though it’s unclear if anything has been hit. The IRGC subsequently identified that it targeted the US base in response to weekend US strikes on Iranian sites. According to a description of the released propaganda video:
The start of the video includes a close-up of what looks to be a sticker on the body of a missile depicting a bruised US president Donald Trump, on the phone asking for help, and overlaid on a “closed” Strait of Hormuz. The caption reads: “Until the last American soldier leaves the region.”
All sides, including the Iranians and Kuwaitis, are saying they have a right to defend themselves. The United States, for its part, has said that it bombed radar and drone sites in Iran in response to the Iranians having shot down a US drone over the weekend.
Kuwait, GCC Condemnation
After the US base in Kuwait was freshly targeted, Kuwait’s Ministry of Foreign Affairs issued the following: “The Ministry of Foreign Affairs reiterates the State of Kuwait’s condemnation and denunciation, in the strongest terms, of the heinous and repeated Iranian attacks, which represent a dangerous escalation and a direct assault on the security and stability of the State of Kuwait, as well as a flagrant violation of the rules of international law, the United Nations Charter, and Security Council Resolution 2817 of 2026, not to mention the grave threat they pose to the safety of civilians and vital facilities in the country,” it said in a post on X.
“The continuation and repetition of these aggressions undermine efforts aimed at de-escalating tensions and threaten security and stability in the region, emphasizing the State of Kuwait’s categorical rejection of these aggressive practices,” it added.
Also, a swift reaction was issued by the Gulf Cooperation Council (GCC). It expressed its “strongest condemnation” of Iran for its attack on Kuwait, blasting it as a “dangerous and irresponsible escalation”. Saying Kuwait remains a crucial part of the GCC, the bloc stated it stands “united and firm” and they fully support “all the measures and procedures it [Kuwait] takes to protect its security, preserve its sovereignty and territorial integrity, and maintain the security of its citizens and residents.”
IRGC Navy seeks to flex with increasing fast boat patrols of Strait of Hormuz:
Iran Latest Warnings: “The Bill Comes Due”; Ceasefire Breached
Top Iranian negotiator and parliament speaker Mohammad Bagher Ghalibaf has said that the continued American naval blockade of Iran’s ports and Israel’s intensifying offensive against Hezbollah in Lebanon illustrate that the US is not truly complying with the ceasefire.
He wrote on X that “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.” He stressed by way of warning: “Every choice has a price, and the bill comes due. It will all fall into place.”
As things in Lebanon intensify, given the IDF has plunged past the Litani River and plans to expand its ground force occupation. Yemen’s Houthis say they are ready to join Hezbollah’s efforts against Israel, per Tasnim. Iran’s Foreign Ministry has also freshly addressed the Lebanon crisis:
More…
Trump: “Sit Back & Relax”
Trump’s latest Truth Social: “Just sit back and relax, it will all work out well in the end – it always does!”
And here’s pushback from Stephen Walt in Foreign Policy magazine:
Although we don’t know the details of the rumored agreement between the United States and Iran—or even if one will eventually be reached—anyone with a triple-digit IQ understands that Israel and the United States made a colossal blunder when they started the war. None of their stated goals have been achieved: The Iranian regime did not collapse, it did not surrender its nuclear stockpile, and its missile and drone capabilities are intact. It has demonstrated that it can shut down the Strait of Hormuz anytime it wants to inflict significant damage on its neighbors. All of U.S. President Donald Trump’s and U.S. Defense Secretary Pete Hegseth’s bragging and bluster over the past three months has been exposed as a lot of hot air.
Iran Touts More Breaches of US Blockade
A total of 15 vessels, including four oil tankers, have successfully transited the Strait of Hormuz over the last 24 hours, according to the Islamic Revolutionary Guards Corps (IRGC).
The IRGC navy confirmed that the ships only completed their passage after receiving explicit permission and coordinating directly with its command structure. Washington and its Gulf allies (with the exception of Oman) have repeatedly condemned any attempt to impose an ‘Iranian protocol’ involving the extraction of tolls.
In an official statement carried by Fars News, the IRGC issued a stark warning to the region, declaring that any cooperation with “hostile forces” would be viewed by Tehran as an “imminent security threat” that will be “dealt with accordingly”. This is tantamount to warning foreign vessels they could come under direct attack if they don’t comply.
More Latest Developments
via Newsquawk…
- Iran may propose changes to the US peace draft memorandum of understanding, according to Tasnim. This follows a report that President Trump proposed further changes to the existing text, while a source stated that text exchanges continue and that Iran may submit its own edits.
- Iranian Foreign Minister Araghchi told state media that talks and message exchanges with the US are ongoing, and that the talks cannot be judged until a clear result is reached.
- Iranian Foreign Ministry Spokesperson said the negotiation team’s visit to Qatar was positive.
- Iranian Foreign Ministry spokesperson said that they have a legal obligation to prevent aggressors from using their territory and facilities to attack another country.
- Iran’s Presidential Office denied reports that Iranian President Pezeshkian submitted his resignation to the Supreme Leader, and stated that the stories were spread by some foreign media.
- Iranian Supreme Leader’s military adviser Mohsen Rezaei said Iran has no intention of yielding or compromising with the US and will not place itself in a weak position, while he also stated that US President Trump is betraying diplomacy for the third time by continuing a naval blockade on Iran and making excessive demands.
- IRGC said following aggression of US Army on a communication tower on Sirik Island, located in the Homozgan province an hour ago, fighters of the IRGC Aerospace Force targeted airbase where aggression originated and predicted targets were destroyed.
- Iran’s top negotiator said “The naval blockade and escalation of war crimes in Lebanon by the genocidal Zionist regime are clear evidence of US noncompliance with the ceasefire”.
- Iranian Foreign Ministry Spokesperson said at this moment they do not believe that the US has good intentions towards Iran.
- Iran’s FM Baghaei said “No negotiations have taken place on the details of the nuclear issue at this stage”. One point being discussed is the allocation of funds for reconstruction. We are considering options for responding to the escalation of Israeli attacks in Lebanon.
- Iran’s Baghaei said a ceasefire in Lebanon is an integral part of any agreement and end to the war; lack of trust and constant change in US and Israeli positions in Lebanon are causing a delay on the diplomatic process. The continuation of maritime piracy and attacks on Iranian shipping is an example of a violation of the ceasefire. The diplomatic apparatus is closely following developments and we will take every measure to defend Iran’s sovereignty. The exchange of messages is still ongoing.
- Iran’s Deputy Foreign Minister Gharibabadi said Iran’s goal is not to hold ships in the Strait, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down. Stopping ships behind the Strait of Hormuz incurs storage and delay costs, and war insurance has increased by up to 500%. Accompanying Iranian forces costs less than war insurance and eliminates the risk of stoppage, inspection, and seizure. Iran’s goal is not to hold the ships, but to declare a procedure that is not contrary to international law; these arrangements are not temporary and Iran will not back down.
- “Three consecutive explosions were heard in Bandar Abbas”, Iran International reported.
- US President Trump reportedly sent tougher terms to Iran regarding the peace framework, according to officials cited by The New York Times.
- US President Trump posted “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us”. Full post “Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us. But don’t the Dumocrats, and various seemingly unpatriotic Republicans, understand that it is MUCH tougher for me to properly do my job and negotiate, when political hacks keep negatively “chirping,” at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever. Just sit back and relax, it will all work out well in the end – It always does! President DJT”.
- US President Trump posted “Fake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon”. Full post “ScraperFake News CNN said today, routinely, that my Iran Nuclear Deal doesn’t talk about Nuclear, when actually it states, very clearly, that Iran will not have a Nuclear Weapon. It then goes on, in very strong and lengthy detail, to discuss various other aspects of Nuclear. In fact, that’s what most of the agreement is about. CNN, and so many others in the Fake News Media, is a Low Ratings disaster. Even with new ownership, it is unlikely to ever get better!!! President DJT”.
- US Secretary of State Rubio spoke in the last 48 hours with Lebanon’s President and Israel’s PM to try and promote a new ceasefire initiative, according to a senior US official cited by Axios’s Ravid. said:. US senior official said that the new initiative was proposed as part of the negotiations taking place between Israel and Lebanon, as another round of talks between diplomats from both sides is scheduled to take place this week in Washington. In order to advance the talks, US proposed that as a first step, Hezbollah stop all attacks on Israel, and in return, Israel will refrain from escalation in Beirut.
- US Central Command confirmed military forces conducted strikes against Iranian radar at command and control sites located in Goruk and Qeshm Island over the weekend.
- Kuwait Army said air defences are intercepting hostile missile and drone attacks.
ISRAEL/IRAN/USA MONDAY LATE MORNING
Iran Halts All Messages With US, Orders Opening Of New Fronts Citing ‘Israeli Crimes’; Futures Slide As Oil Jumps
Monday, Jun 01, 2026 – 09:25 AM
Summary
- Oil jumps on Iran announcing halt to all exchanges with US, citing Israeli aggression in Lebanon.
- Iran overnight initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch.
- The US bombed radar & drone sites in Iran in response to the Iranians having shot down a US drone over the weekend. Reports of foreign jets over Iranian airspace.
- Iran negotiator Ghalibaf charges US with breaking the ceasefire: “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.”
- Yemen’s Houthis warn they are ready to join Hezbollah’s military efforts against Israel.
- Trump Truth Social: “Just sit back and relax, it will all work out well in the end – it always does!”
* * *
State Media: Iran Stops Exchanging Messages with US
Merely last week, Western MSM press reports were touting the usual ‘close to a deal’ headlines, but this morning demonstrates how illusory such claims were and are, as Iranian state media now suggests a total halt in communications between the sides.
Per state Tasnim, “Iran stops exchanging messages with the US in protest against Zionist crimes.” This as the IDF has sent ground forces deep into Lebanon, past the Litani River – in the deepest operation in decades. Tehran has insisted on linking up any US-Iran deal with a Israel-Lebanon peace. Tehran is now warning to “completely block the Strait of Hormuz, including the Bab al-Mandab Strait” – the latter with the cooperation of Yemen’s Houthis. Below is the full translated statement:
• “The determination of the Iranian armed forces and all axes of the resistance front to respond to Zionist crimes and open new fronts“.
• “Tasnim has obtained information indicating that, given the continuation of the Zionist regime’s crimes in Lebanon and considering that Lebanon was one of the preconditions for the ceasefire and that this ceasefire has now been violated on all fronts, including Lebanon, the Iranian negotiating team is stopping “talks and exchange of texts through a mediator”.”
• “The immediate cessation of the Zionist regime’s aggressive and brutal army operations in Gaza and Lebanon and the necessity of the regime’s complete withdrawal from the occupied areas in Lebanon have been emphasized by Iranian officials and negotiators, and there will be no talks until Iran and the resistance’s views on this matter are met”.
• “Also, the Resistance Front and Iran have set their agenda to completely block the Strait of Hormuz, and activate other fronts, including the Bab al-Mandab Strait, in order to punish the Zionists and their supporters”.
Oil jumps on the headline of halted talks…
Futures slide…
Author and University of Chicago professor of the ‘realist’ school Robert Pape says the following on Monday published report: “We will run out of our cushion of oil inventories in July, whether it’s the middle or end of July,” he said. “And Iran knows that. So what Iran is doing is just stringing out the clock to get a better deal.”
“What that tells me is they’re not interested in returning the price of oil back to where it was before the war,” he said. “I think what we need to understand is Iran’s goal is to continue instability, continue elevated price of the world’s oil because it gains from that.”
END
Trump On Iran Halting Talks: “We’ll Keep Blockade” – Signals Tehran Can’t Outlast US
Monday, Jun 01, 2026 – 12:45 PM
Summary
- Iran announces halt to all exchanges with US, citing Israeli aggression in Lebanon. Trump says ‘haven’t heard’ this from Tehran, vows to keep US naval blockade in place.
- Iran overnight initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch.
- The US bombed radar & drone sites in Iran in response to the Iranians having shot down a US drone over the weekend. Reports of foreign jets over Iranian airspace.
- Iran negotiator Ghalibaf charges US with breaking the ceasefire: “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.”
- Yemen’s Houthis warn they are ready to join Hezbollah’s military efforts against Israel.
- Trump Truth Social: “Just sit back and relax, it will all work out well in the end – it always does!”
Trump Reacts
President Trump tells NBC News that he’s not heard from Iran on reports they’re suspending talks, and on Iran, “I think we’ve been talking too much if you want to know the truth, going silent would be very good”
- We’ll keep the blockade in Hormuz.
- I think I can wait as long as they want. They’re losing a fortune.
His comments to NBC:
“It’s an appropriate thing to say, because they’re better negotiators than they are fighters,” he said in a brief phone call. “But they haven’t informed us of that.”
“It doesn’t mean we’re going to go and start dropping bombs all over there,” added Trump, who said Friday he would soon decide on a proposed deal to extend an ostensible ceasefire agreed to in early April. “We’ll keep the blockade.”
State Media: Iran Stops Exchanging Messages with US
Merely last week, Western MSM press reports were touting the usual ‘close to a deal’ headlines, but this morning demonstrates how illusory such claims were and are, as Iranian state media now suggests a total halt in communications between the sides.
Per state Tasnim, “Iran stops exchanging messages with the US in protest against Zionist crimes.” This as the IDF has sent ground forces deep into Lebanon, past the Litani River – in the deepest operation in decades. Tehran has insisted on linking up any US-Iran deal with a Israel-Lebanon peace. Tehran is now warning to “completely block the Strait of Hormuz, including the Bab al-Mandab Strait” – the latter with the cooperation of Yemen’s Houthis. All of this has direct impact on the US-Iran ceasefire:
IRAN’S STATE TV SAYS PROBABILITY OF CEASEFIRE BETWEEN IRAN AND U.S. ENDING IS HIGH IF ATTACKS ON LEBANON DO NOT STOP
Below is the full translated statement:
• “The determination of the Iranian armed forces and all axes of the resistance front to respond to Zionist crimes and open new fronts“.
• “Tasnim has obtained information indicating that, given the continuation of the Zionist regime’s crimes in Lebanon and considering that Lebanon was one of the preconditions for the ceasefire and that this ceasefire has now been violated on all fronts, including Lebanon, the Iranian negotiating team is stopping “talks and exchange of texts through a mediator”.”
• “The immediate cessation of the Zionist regime’s aggressive and brutal army operations in Gaza and Lebanon and the necessity of the regime’s complete withdrawal from the occupied areas in Lebanon have been emphasized by Iranian officials and negotiators, and there will be no talks until Iran and the resistance’s views on this matter are met”.
• “Also, the Resistance Front and Iran have set their agenda to completely block the Strait of Hormuz, and activate other fronts, including the Bab al-Mandab Strait, in order to punish the Zionists and their supporters”.
Oil jumps on the headline of halted talks…
Futures slide…
Author and University of Chicago professor of the ‘realist’ school Robert Pape says the following on Monday published report: “We will run out of our cushion of oil inventories in July, whether it’s the middle or end of July,” he said. “And Iran knows that. So what Iran is doing is just stringing out the clock to get a better deal.”
“What that tells me is they’re not interested in returning the price of oil back to where it was before the war,” he said. “I think what we need to understand is Iran’s goal is to continue instability, continue elevated price of the world’s oil because it gains from that.”
For more, read our:
CENTCOM: Intercepted Pair of Ballistic Missiles on Base
On Monday morning US Central Command issued its official statement and explanation over the earlier tit-for-tat brief flare-up in fighting, which appears to have ended…
“Last night at 11 p.m. ET, U.S. forces successfully intercepted two Iranian ballistic missiles targeting American forces based in Kuwait. These missiles were immediately defeated and no American personnel were harmed,” it said. “U.S. Central Command remains vigilant and will continue to protect our forces from Iranian aggression while supporting the ongoing ceasefire.”
Fresh Missiles on Kuwait
The extended US-Iran ceasefire is once again being severely tested, after Iran earlier in the daylight hours of Monday initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch. Kuwait in turn confirmed that has been intercepting inbound drone and missile fire.
It hosts a major American base, which is again being targeted, though it’s unclear if anything has been hit. The IRGC subsequently identified that it targeted the US base in response to weekend US strikes on Iranian sites. According to a description of the released propaganda video:
The start of the video includes a close-up of what looks to be a sticker on the body of a missile depicting a bruised US president Donald Trump, on the phone asking for help, and overlaid on a “closed” Strait of Hormuz. The caption reads: “Until the last American soldier leaves the region.”
All sides, including the Iranians and Kuwaitis, are saying they have a right to defend themselves. The United States, for its part, has said that it bombed radar and drone sites in Iran in response to the Iranians having shot down a US drone over the weekend.
Kuwait, GCC Condemnation
After the US base in Kuwait was freshly targeted, Kuwait’s Ministry of Foreign Affairs issued the following: “The Ministry of Foreign Affairs reiterates the State of Kuwait’s condemnation and denunciation, in the strongest terms, of the heinous and repeated Iranian attacks, which represent a dangerous escalation and a direct assault on the security and stability of the State of Kuwait, as well as a flagrant violation of the rules of international law, the United Nations Charter, and Security Council Resolution 2817 of 2026, not to mention the grave threat they pose to the safety of civilians and vital facilities in the country,” it said in a post on X.
“The continuation and repetition of these aggressions undermine efforts aimed at de-escalating tensions and threaten security and stability in the region, emphasizing the State of Kuwait’s categorical rejection of these aggressive practices,” it added.
Also, a swift reaction was issued by the Gulf Cooperation Council (GCC). It expressed its “strongest condemnation” of Iran for its attack on Kuwait, blasting it as a “dangerous and irresponsible escalation”. Saying Kuwait remains a crucial part of the GCC, the bloc stated it stands “united and firm” and they fully support “all the measures and procedures it [Kuwait] takes to protect its security, preserve its sovereignty and territorial integrity, and maintain the security of its citizens and residents.”
IRGC Navy seeks to flex with increasing fast boat patrols of Strait of Hormuz:
Iran Latest Warnings: “The Bill Comes Due”; Ceasefire Breached
Top Iranian negotiator and parliament speaker Mohammad Bagher Ghalibaf has said that the continued American naval blockade of Iran’s ports and Israel’s intensifying offensive against Hezbollah in Lebanon illustrate that the US is not truly complying with the ceasefire.
He wrote on X that “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.” He stressed by way of warning: “Every choice has a price, and the bill comes due. It will all fall into place.”
As things in Lebanon intensify, given the IDF has plunged past the Litani River and plans to expand its ground force occupation. Yemen’s Houthis say they are ready to join Hezbollah’s efforts against Israel, per Tasnim. Iran’s Foreign Ministry has also freshly addressed the Lebanon crisis:
More…
Trump: “Sit Back & Relax”
END
MONDAY EVENING;
Lebanon Announces Hezbollah-Israel Ceasefire, Trump Proclaims Iran ‘Talks Continuing At Rapid Pace’
Monday, Jun 01, 2026 – 03:18 PM
Summary
- Trump has announced the “shooting will stop” in Lebanon, after phone calls with both sides. Says Iran talks back on “at rapid pace”; Lebanese presidency confirms Hezbollah agreed to US ceasefire proposal
- Iran announces halt to all exchanges with US, citing Israeli aggression in Lebanon. Trump says ‘haven’t heard’ this from Tehran, vows to keep US naval blockade in place.
- Iran overnight initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch.
- The US bombed radar & drone sites in Iran in response to the Iranians having shot down a US drone over the weekend. Reports of foreign jets over Iranian airspace.
- Iran negotiator Ghalibaf charges US with breaking the ceasefire: “the naval blockade and escalation of war crimes in Lebanon” were “clear evidence of US noncompliance with the ceasefire.”
- Trump Truth Social: “Just sit back and relax, it will all work out well in the end – it always does!”
* * *
Lebanon Truce Affirmed
The Lebanese presidency has announced that Hezbollah agreed to a US proposal on the mutual cessation of attacks, which will expand to all Lebanese territory.
Per a regional Arab correspondent:
As we emphasized, the Israeli attack on Lebanon was obstructing the reaching of the agreement. The mediators exerted great effort today, and after the American pressure and the Israeli retreat, the doors are now open to return the negotiations to their natural and positive course, and there is no longer much left.
Iran Talks Back On?
Wishful thinking or already a reality? …following a proclaimed Lebanon truce, uneasy at best:
Trump Suggests He is Forging Lebanon Ceasefire
Trump has announced the “shooting will stop” in Lebanon, after a flurry of phone calls, including with Netanyahu. This came shoon on the heels of Hezbollah signaling it is ready to agree to an immediate truce. Israel too has reportedly halted plans to begin new airstrikes on Beirut.
The Lebanon crisis caused Tehran to earlier announced it is halting all contacts with the US. Will the US-Iran talks now be back on?
Trump to CNBC: ‘I don’t care’ if talks are over
Trump has shrugged off the apparent collapse of talks with Iran, after Tehran earlier said it has halted all communications with Washington over Israel’s expanded assault on Lebanon and Hezbollah. Trump has freshly told CNBC by phone, “I don’t care if they’re over, honestly.”
“I really don’t care. I couldn’t care less,” he added, and indicated he was “going to ask” Israeli Prime Minister Benjamin Netanyahu “what’s going on with Lebanon.” This suggests Trump could pressure America’s ally to lower tensions.
Trump appears to be betting the US can ‘outlast’ the Islamic Republic, in terms of inflicting economic pain amid the growing global oil supply crisis due to the Hormuz Strait closure. On this, he reacted as follows:
He also said he wasn’t worried about oil prices, which spiked following the report in Iranian state media that Tehran is vowing to “completely block” the Strait of Hormuz in addition to halting negotiations.
“I think the oil will be dropping like a rock in the very near, you know, the very near distance,” Trump said.
Trump Reacts
President Trump tells NBC News that he’s not heard from Iran on reports they’re suspending talks, and on Iran, “I think we’ve been talking too much if you want to know the truth, going silent would be very good”
- We’ll keep the blockade in Hormuz.
- I think I can wait as long as they want. They’re losing a fortune.
His comments to NBC:
“It’s an appropriate thing to say, because they’re better negotiators than they are fighters,” he said in a brief phone call. “But they haven’t informed us of that.”
“It doesn’t mean we’re going to go and start dropping bombs all over there,” added Trump, who said Friday he would soon decide on a proposed deal to extend an ostensible ceasefire agreed to in early April. “We’ll keep the blockade.”
State Media: Iran Stops Exchanging Messages with US
Merely last week, Western MSM press reports were touting the usual ‘close to a deal’ headlines, but this morning demonstrates how illusory such claims were and are, as Iranian state media now suggests a total halt in communications between the sides.
Per state Tasnim, “Iran stops exchanging messages with the US in protest against Zionist crimes.” This as the IDF has sent ground forces deep into Lebanon, past the Litani River – in the deepest operation in decades. Tehran has insisted on linking up any US-Iran deal with a Israel-Lebanon peace. Tehran is now warning to “completely block the Strait of Hormuz, including the Bab al-Mandab Strait” – the latter with the cooperation of Yemen’s Houthis. All of this has direct impact on the US-Iran ceasefire:
IRAN’S STATE TV SAYS PROBABILITY OF CEASEFIRE BETWEEN IRAN AND U.S. ENDING IS HIGH IF ATTACKS ON LEBANON DO NOT STOP
END
ISRAEL TBN
END
SATURDAY/TOUSI IRAN TV
LAST 24 HRS
END
END
END
IRAN/USA
‘We Outright Grabbed The Wallets’: Bessent Boasts $1BN In Iran State Crypto Seized To Date
Friday, May 29, 2026 – 08:30 PM
Washington’s economic war on Iran and its ‘shadow’ banking network continues, as on Friday Treasury Secretary Scott Bessent announced the US has seized $1 billion in Iranian cryptocurrency assets as part of the economic component of President Trump’s Operation Epic Fury.
The billion dollar figure represents the running total seized to date, building on prior milestones in the conflict, particularly a recent major April 2026 freeze of $344 million in USDT on the Tron blockchain. By close of April, $500 million total had been seized.
And so clearly with the addition since then of some half-billion dollars more in seized digital assets, the US Treasury program has only greatly accelerated in the last several weeks.
During his Friday speech before the Reagan National Economic Forum, Bessent stated:
“Just outright grabbed the wallets. Some of them may be typing in right now and might not realize their wallet had been grabbed.”
Assets are held “on behalf of the Iranian people” – he described, while framing that the Iranian government had ‘stolen’ the money from the Iranian populace.
Bessent is signaling further relentless waves of OFAC wallet designations and aggressive asset forfeitures coming in the next months, as highly sanctioned Iran continues to seek alternative means of conducting financial transactions.
As we’ve featured before, for ordinary Iranians – roughly one in six of the population – crypto served as a vital lifeline. Facing relentless rial depreciation (down nearly 90 percent since 2018), chronic inflation of 40 to 50 percent, and frequent power blackouts or internet shutdowns during protests, citizens turned to Bitcoin and stablecoins like U.S. dollar-pegged stablecoins (USDT) on the Tron network to hedge savings, facilitate remittances, and move value when traditional banking failed. Spikes in Bitcoin withdrawals to personal wallets often coincided with domestic unrest and regional conflicts.
Yet this parallel financial system has also become a powerful tool for the state. The Islamic Revolutionary Guard Corps (IRGC) steadily tightened its grip on Iran’s crypto flows. IRGC-linked addresses received more than $3 billion in 2025—up from over $2 billion in 2024—with their share rising to more than 50 percent of total Iranian crypto inflows by the end of 2025. These figures represent conservative lower bounds based only on identified and sanctioned wallets.
Washington in the meantime is still entertaining dreams of sparking some kind of anti-regime uprising based on applying the economic squeeze to the Iranian system, but apart from unrest back in January, this has utterly failed to materialize.
END
US Military Hasn’t Identified A Single Confirmed Mine In Strait Of Hormuz, Officials Tell NBC
Saturday, May 30, 2026 – 01:25 PM
Just a few hours after President Trump boasted that the US Navy had detonated “numerous” Iranian sea mines, NBC News reported that, even after three months of warfare, the US military has yet to confirm the presence of even a single mine in the strategically critical Strait of Hormuz.
Citing two US officials and a “person familiar with the matter,” NBC said relentless searches of the waterway by aerial and undersea drones haven’t found any confirmed mines, merely finding some objects that might be mines. “If anything, the threat has been far less robust than we had feared,” the person “familiar with the matter” told NBC.
Around the time Trump decided to join Israel in launching a war on Iran in the midst of ongoing negotiations in which Tehran had offered major concessions along the lines of what Trump is demanding today, US intelligence officials believed Iran had placed mines on the south side of the strait ahead of the shooting or shortly thereafter, said NBC. Allies had likewise reportedly concluded that Iran had deployed sea mines. The mine menace was said to be so formidable that, in April, a Pentagon official speaking to US legislators in a classified session said that fully clearing the strait of mines could take six months.
In a Friday morning social media post in which he foreshadowed a potential ceasefire agreement that would end restrictions on commerce through the Strait of Hormuz, Trump boasted that the US Navy had “removed, through detonation, numerous such mines with our great underwater mine sweepers.”
The NBC report seemingly contradicts multiple CBS News reports. Most recently, on May 19, the outlet reported that US intelligence had identified “at least 10 mines” in the strait. Back in March CBS reported that an official said there were at least a dozen, while another one said fewer than a dozen. CBS attributed this information to officials who weren’t named.
The potential presence of mines has weighed heavily on the minds of ship owners and –more importantly — shipping-insurance underwriters who’ve terminated existing coverage and offered new protection at prohibitively expensive rates. Of course, mines aren’t the only weapon at Iran’s disposal: drones and missiles can wreak havoc as well.
Last week, there were reports that the UK Royal Navy was making moves for a potential deployment of hundreds of sailors on a mine-sweeping mission in the strait. However, as we emphasized, AP reported that this potential deployment would only proceed if a peace agreement were reached, suggesting it’s principally a gesture meant to placate Trump, who has pestered NATO allies to help remedy the massive, strait-centered economic disruption caused by the US-Israeli decision to launch a war on Iran over a nuclear weapon program that almost certainly does not exist.
In March, Trump ranted against nations that were anxious over the shutting of a waterway that transports about 20% of the world’s petroleum, in addition to about a third of international fertilizer trade: “Go to the strait and just take it. You have to start learning how to fight for yourself. Go get your own oil.” Days later, he said, “The United States imports almost no oil through the Hormuz Strait and won’t be taking any in the future. We don’t need it. We haven’t needed it and we don’t need it.”
END
IRAN
and Trump wants to make a deal with these clowns????
Iran Poised To Finalize Hormuz Strait Management Plan, Brushing Aside Trump’s Threats
Saturday, May 30, 2026 – 11:05 AM
Iran’s state Tasnim is saying the US naval blockade remains in effect, despite days of headlines of a ‘finalized’ US-Iran deal, which were clearly premature – though both sides still signal they are close to agreeing on a Memorandum of Understanding. But this is toward simply extending the ceasefire by 60-days in order to get back to the table, in hopes of finally ending the war based on a final deal.
Despite President Trump’s latest warning which declared strict conditions on reopening the Strait of Hormuz, Tehran appears to be completely brushing his words aside, and is moving closer to formalizing its authority over vital energy shipping waterway.
State-run Nour News is reporting that a bill outlining Tehran’s role in managing passage through the strategic waterway has been finalized and is expected to be brought to a vote soon.
According to Bloomberg, Iranian lawmaker Alireza Salimi did not provide a specific timeline for the vote but said the legislation is on track to become law. Salimi said that “only Iran and Oman can decide on Strait of Hormuz management” – adding that “the Omani side has given preliminary approval” to Tehran’s plan.
He further emphasized the strategic importance of Hormuz, declaring that “the Strait of Hormuz is more important and more valuable to the Islamic Republic of Iran than dozens of nuclear bombs.”
Previous comments by Salimi indicate the bill would cover shipping security, the collection of navigation and environmental pollution fees, as well as the creation of a regional development and progress fund – all of which critics have dismissed as but Tehran’s ruse to collect what is in effect a “toll”.
The legislation is expected to undergo review by Iran’s Guardian Council, which is responsible for vetting and approving all laws before they take effect.
President Trump has sternly warned against the Islamic Republic and Oman teaming up to assert control over the strait. As a reminder, during a Wednesday televised cabinet meeting he said as follows:
“No, the strait’s got to be open to everybody; it’s international waters,” the president told reporters. “We’ll watch over it, but nobody’s going to control it. That’s part of the negotiation that we have.”
“They would like to control it; nobody’s going to control it. It’s international waters,” he continued. “And Oman will behave just like everybody else, or we’ll have to blow ’em up. They understand that. They’ll be fine.”
In the wake of this, Iran has been expressing solidarity with Oman. As reported in The Hill:
Iran reupped its backing for Oman on Thursday, after President Trump warned the latter nation to “behave” or face consequences.
Iranian Foreign Ministry spokesperson Esmail Baghaei said in a statement that Iran would support the Gulf nation, which is separated from Iran by the Strait of Hormuz, against U.S. threats, Reuters reported. He also criticized recent strikes in Bandar Abbas, a southern port city.
The irony in all of this is that Oman has long been an American ally in the region, though is also often called the “Switzerland of the Middle East” for its diplomatic and mediatory role in regional disputes.
Despite generally positive relations with Washington going back years and even decades, US Treasury Secretary Scott Bessent chastized Oman, stating on X Thursday: “The United States Government will not tolerate any effort to impose a tolling system in the Strait of Hormuz.”
“Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalized,” Bessent stated. “All nations should reject outright any efforts by Iran to disrupt the free flow of commerce. Tehran’s days of terrorizing the region and the world are over.”
SUNDAY
HEZBOLLAH
Missiles Rain Down On Northern Israel In Large Hezbollah ‘Revenge’ Operation
Saturday, May 30, 2026 – 03:45 PM
Northern Israel has come under heavy attack from Hezbollah on Saturday, after this past week a full-scale war has resumed in southern Lebanon, which even saw the resumption of Israeli airstrikes on Beirut’s southern suburbs, much further to the north.
Even while Tel Aviv maintains the illusion of a ceasefire with Lebanon (as in, its government and national army), there is no ceasefire with Iran-linked Hezbollah, following weeks of sporadic drones being sent on northern Israel, as well as troop positions of invading IDF forces.
The Saturday drone and missile waves hit multiple locations in and around the Galilee area, with regional media reporting that at least eight missiles were launched at Israeli positions in the initial salvo, one of which struck a site in Kiryat Shmona city.
Hezbollah subsequently announced it had carried out 22 military operations against Israeli army positions and equipment within the prior 24 hours. It framed this as a revenge operation for Israeli attacks on civilian centers in Lebanon.
Times of Israel has cited IDF statements saying Israel is bracing for more attacks out of Lebanon. “Hezbollah launched several rockets from Lebanon at the Western Galilee a short while ago,” it said in a late in the day Saturday (local time) update. “The IDF says some of the rockets were intercepted and others struck open areas, causing no injuries.”
Sirens across several towns and cities were activated, and there were scenes of coastal locales being impacted, with throngs of people scrambling for bomb shelters.
Starting early last week, Prime Minister Benjamin Netanyahu confirmed that he instructed his military to “press the pedal even harder” against Hezbollah, reportedly upon a greenlight being given by Washington, following increased drone attacks from the Shia paramilitary group backed by Iran on northern Israel.
Impacts filmed in water areas of Nahariya Beach…
“We are at war with Hezbollah. Just in recent weeks, our brave fighters have eliminated more than 600 terrorists,” Netanyahu announced in video statement. “But we are not taking our foot off the gas. On the contrary, I have instructed them to press the pedal even harder.“
“We will strike them. Yes, they are attacking us with drones, cyber-enabled drones, and we have a special team working on this — and we will solve that too…But what this requires from us now is to intensify the blows, increase the force. We will strike them decisively,” the Israeli leader said.
end
ISRAEL/HEZBOLLAH
HUGE!! ISRAEL WILL NOW GO STRAIGHT TO BEIRUT!
Israel Seizes Crusader Beaufort Castle, Marking Deepest Plunge Into Lebanon In Decades
Sunday, May 31, 2026 – 07:15 PM
Fresh Sunday reports say that Israel’s military has made its deepest plunge into Lebanon in nearly three decades, having captured a strategic crusader castle site and UNESCO World Heritage Landmark, Beaufort castle.
It was last captured in 1982, when the IDF later pushed all the way north to occupy portions of Beirut. The army posted photographic proof via its Arabic spokesperson, Avichay Adraee, who issued an image on X showing Israeli troops walking outside the castle. An Israeli flag has also been raised over the stone fortress complex.
The castile overlooks the Litani River, which Israeli forces have been pushing north of, and has stood for nearly 1,000 years – and was at various times used by Crusader knights, Saladin’s Jerusalem army, the Mamlukes, and Ottomans. In the 1980s, fighters from the Palestine Liberation Organization (PLO) even occupied it for a time. The name Beaufort is Old French for “beautiful fortress.”
Soon the heels of the historic site’s capture, the IDF repeated a warning to everyone south of the Zahrani, saying they must evacuate or else face the possibility of coming under attack and thus death or injury.
“Anyone present near Hezbollah elements, facilities or means of combat endangers their life,” an IDF spokesman said. The castle appears to have been shelled by the IDF before the final ground assault.
According to more details via The Times of Israel:
Troops took over territory in the Beaufort Ridge and Wadi Saluki stream area and expanded strikes north of the Litani River after the Hezbollah terror group fired multiple rockets and drones at Israel on Saturday afternoon and evening, forcing schools near the border with Lebanon to close on Sunday.
Footage from Sunday morning showed Israeli and IDF flags flying over the citadel, a strategic medieval Crusader-built fortress with symbolic importance in the history of Israel’s military entanglements in Lebanon. Shelling was audible and smoke rose from the surrounding area.
The fortress, also known as Qalaat al-Shakif, commands sweeping views of the Galilee Panhandle in northern Israel, as well as the Nabatieh area in southern Lebanon, making it a position of considerable strategic value.
The day prior to the takeover, northern Israel had come under heavy Hezbollah rocket and drone attack. These rocket waves have been stepped up as it’s become clear the Lebanon ceasefire has effectively collapsed.
The past week has seen hundreds of projectiles fired on southern Lebanon. Gong back to early March, over 3,180 Lebanese have been killed, with more than 9,000 wounded – according to Lebanese health officials. The figures do not distinguish between armed combatants or civilians.
Critics of Israel have warned that Netanyahu is trying to sabotage Trump’s efforts to find a final peace deal with Iran. The Israelis have long worried that Washington could in the end settle for a ‘bad deal’ – or one that doesn’t ensure the complete destruction of Iran’s nuclear program and highly enriched uranium.
The US-mediated truce was really only something that was meant to prevent Israel from bombing Beirut and other government centers once again.
Washington has been trying to put the pressure on the Lebanese government and national army to finally disarm Hezbollah – but this has remained unrealistic as the army is weak and underfunded (ironically in part due to limitations imposed by the US).
END
HEZBOLLAH/ISRAEL
Israel Warns There’ll Be ‘No Calm In Beirut’ Until Hezbollah Ceases Attacks
Monday, Jun 01, 2026 – 11:00 AM
The US-Iran ceasefire is being tested on multiple fronts, with Tehran already having announced Monday the suspension of contact with Washington over the escalation of Israel’s ground war in Lebanon, where the IDF keeps pushing further north of the Litani River. Israel looks poised to resume major airstrikes on Beirut, despite that technically it has a US-mediated ceasefire in place with the government of Lebanon. Israeli leaders have vowed to halt Hezbollah’s persistent drone strikes on northern Israel, and to establish a security buffer zone.
Also on Monday Israel’s defense minister threatened there will be “no calm in Beirut” if Hezbollah’s rockets and drones continue raining down on Israeli communities and troop locations. This is a direct threat to resume airstrikes on the capital city. This has direct impact on the US-Iran ceasefire:
IRAN’S STATE TV SAYS PROBABILITY OF CEASEFIRE BETWEEN IRAN AND U.S. ENDING IS HIGH IF ATTACKS ON LEBANON DO STOP
“The Dahiyeh in Beirut is no different from the communities in northern Israel – if there is no calm in the north, there will be no calm in Beirut,” Israel Katz said in a statement released by his office,
Dahiyeh a Hezbollah stronghold near the country’s main international airport, but is densely packed with civilians. Each wave of Israeli attacks has historically resulted in high civilian casualties.
“At the same time, the IDF continues to operate with fire and maneuver against Hezbollah terrorists and infrastructure in Lebanon … in order to push threats away from IDF forces and from the residents of the State of Israel, and to turn the Litani area into a zone under IDF security control, free of weapons and terrorists,” Katz added.
Some pundits have argued that the new Lebanon campaign is aimed at hindering Washington from making a ‘bad deal’ with Tehran (from Tel Aviv’s perspective). Others have said Netanyahu appears “stuck” and doesn’t have a clear mission in Lebanon:
Israeli PM Benjamin Netanyahu is “stuck” in terms of military strategy in Lebanon, according to Jad Melki, professor of media studies at the Lebanese American University.
Melki told Al Jazeera that most of Israel’s escalation has been targeting civilian centres in the city of Tyre, villages in south Lebanon, and historical sites like Beaufort Castle.
“Most of these have been built by Netanyahu as major strategic accomplishments, but those have been mostly exaggerated. Even the Beaufort Castle – unless we’re living in the 12th century, it’s not a strategic military location anymore,” he said.
“The problem is that Netanyahu is stuck,” Melki told Al Jazeera. “He cannot advance very quickly, as he will break the Israeli army, and he cannot sit still in the occupied territories of South Lebanon right now because the resistance is basically hunting his soldiers like sitting ducks, so he’s stuck and can only bomb hospitals and kill civilians and medical workers.”
Opinions have remained varied as to what Israel hopes to gain by escalating things in Lebanon at this fragile point where Israeli is at war on multiple fronts (and might the Houthis join next?):
Local Israeli media outlets have also in some cases questioned the strategic utility of the entire operation in establishing a ‘buffer zone’, pointing out that Hezbollah’s tactical drone fleet is widely believed to possess an operational range in excess of 30 km.
Hezbollah has been having success especially with fiber-optic cable drones which are not to susceptible to jamming, hacking, or other electronic warfare interception measures. All of these developments mean that the Washington-mediated ceasefire is effectively dead, and as Hezbollah’s asymmetric warfare is likely to ramp up in response.
HAMAS/HEZBOLLAH/IRAN/USA
LOOKS LIKE THERE WILL BE A FULL SCALE WAR. ISRAEL WILL NOT STOP UNTIL THEY ELIMINATE HEZBOLLAH
ZEROHEDGE)
Iran freezes talks with US over Israeli military action in Lebanon, IRGC-affiliated outlet claims
Iran also threatened to completely block the Strait of Hormuz, claiming that there would be no talks until its demands on the cessation of Israel’s operations in both Lebanon and Gaza were met.
A Houthi protester with a poster of Ali Khamenei demonstrates amid the US-Israeli conflict with Iran, in Sanaa, Yemen, March 6, 2026(photo credit: REUTERS/KHALED ABDULLAH)ByJERUSALEM POST STAFFJUNE 1, 2026 16:35Updated: JUNE 1, 2026 17:02
Iran has called an immediate halt to its talks with the United States over Israel’s military activity in Lebanon, the Islamic Revolutionary Guard Corps-affiliated Tasnim News Agency reported on Monday.
Iran also threatened to completely block the Strait of Hormuz, as well as the Bab al-Mandab Strait at the south of the Red Sea, claiming that there would be no talks until its demands on the cessation of Israel’s operations in both Lebanon and Gaza were met.
The strait borders Yemen and has previously been put under siege and attacks from the Iran-backed Houthis, who have launched missile attacks and naval raids on vessels attempting to transit over the previous years.
“The immediate cessation of the Zionist regime’s aggressive and brutal army operations in Gaza and Lebanon and the necessity of the regime’s complete withdrawal from the occupied areas in Lebanon have been emphasized by Iranian officials and negotiators, and there will be no talks until Iran and the resistance’s views on this matter are met,” Tasnim added.
Iran has, since the start of its ceasefire with Israel and the US, insisted that Israel also cease its operations against the Hezbollah terrorist group in Lebanon. Since then, Hezbollah has launched numerous rockets and drones towards Israeli communities along the northern border, and Israel has struck at Hezbollah terrorists and infrastructure.
Iranian FM: Ceasefire between Iran and US includes Lebanon
Earlier on Monday, Iranian Foreign Minister Abbas Araghchi announced on X/Twitter that “The ceasefire between Iran and the US is unequivocally a ceasefire on all fronts, including in Lebanon.”
“Its violation on one front is a violation of the ceasefire on all fronts,” he added. “The US and Israel are responsible for the consequences of any violation.”
Last week, KAN News reported that Hezbollah is pushing for a complete ceasefire and requesting that Iranian negotiators ensure that the terror group is included in any agreement reached with the US.
James Genn contributed to this report.
END
Hezbollah Signals Open To Ceasefire As Iran Warns Northern Israel Residents To Evacuate
Monday, Jun 01, 2026 – 01:24 PM
Update(1320ET): In a rare development, Iran itself is now issuing warnings for northern Israel. Tehran is saying that if Beirut comes under fresh Israeli attack, then new assaults on northern Israeli settlements will in turn be unleashed:
Iran’s Khatam al-Anbiya Central Headquarters has warned residents of northern Israel to leave the area if Israel carries out threats to expand attacks on Beirut and its southern suburbs.
But at the same time there are reports saying Hezbollah has indicated to Washington that it is ready to agree to a ceasefire if Israel does the same. And more:
HEZBOLLAH SAYS CONSENT WOULD BE WITHOUT PRECONDITION:CHANNEL 12
Regional Asharq news writes that “Lebanon informed the US of Hezbollah’s acceptance of Washington’s proposal and its readiness to commit to not targeting Israel.” But a ground war in southern Lebanon is already well underway – and a truce would likely be determinant on some level of an IDF withdrawal of territory captured in the last days.
* * *
The US-Iran ceasefire is being tested on multiple fronts, with Tehran already having announced Monday the suspension of contact with Washington over the escalation of Israel’s ground war in Lebanon, where the IDF keeps pushing further north of the Litani River. Israel looks poised to resume major airstrikes on Beirut, despite that technically it has a US-mediated ceasefire in place with the government of Lebanon. Israeli leaders have vowed to halt Hezbollah’s persistent drone strikes on northern Israel, and to establish a security buffer zone.
Also on Monday Israel’s defense minister threatened there will be “no calm in Beirut” if Hezbollah’s rockets and drones continue raining down on Israeli communities and troop locations. This is a direct threat to resume airstrikes on the capital city. This has direct impact on the US-Iran ceasefire:
IRAN’S STATE TV SAYS PROBABILITY OF CEASEFIRE BETWEEN IRAN AND U.S. ENDING IS HIGH IF ATTACKS ON LEBANON DO NOT STOP
“The Dahiyeh in Beirut is no different from the communities in northern Israel – if there is no calm in the north, there will be no calm in Beirut,” Israel Katz said in a statement released by his office,
Dahiyeh a Hezbollah stronghold near the country’s main international airport, but is densely packed with civilians. Each wave of Israeli attacks has historically resulted in high civilian casualties.
“At the same time, the IDF continues to operate with fire and maneuver against Hezbollah terrorists and infrastructure in Lebanon … in order to push threats away from IDF forces and from the residents of the State of Israel, and to turn the Litani area into a zone under IDF security control, free of weapons and terrorists,” Katz added.
Some pundits have argued that the new Lebanon campaign is aimed at hindering Washington from making a ‘bad deal’ with Tehran (from Tel Aviv’s perspective). Others have said Netanyahu appears “stuck” and doesn’t have a clear mission in Lebanon:
Israeli PM Benjamin Netanyahu is “stuck” in terms of military strategy in Lebanon, according to Jad Melki, professor of media studies at the Lebanese American University.
Melki told Al Jazeera that most of Israel’s escalation has been targeting civilian centres in the city of Tyre, villages in south Lebanon, and historical sites like Beaufort Castle.
“Most of these have been built by Netanyahu as major strategic accomplishments, but those have been mostly exaggerated. Even the Beaufort Castle – unless we’re living in the 12th century, it’s not a strategic military location anymore,” he said.
“The problem is that Netanyahu is stuck,” Melki told Al Jazeera. “He cannot advance very quickly, as he will break the Israeli army, and he cannot sit still in the occupied territories of South Lebanon right now because the resistance is basically hunting his soldiers like sitting ducks, so he’s stuck and can only bomb hospitals and kill civilians and medical workers.”
Opinions have remained varied as to what Israel hopes to gain by escalating things in Lebanon at this fragile point where Israeli is at war on multiple fronts (and might the Houthis join next?):
Local Israeli media outlets have also in some cases questioned the strategic utility of the entire operation in establishing a ‘buffer zone’, pointing out that Hezbollah’s tactical drone fleet is widely believed to possess an operational range in excess of 30 km.
Hezbollah has been having success especially with fiber-optic cable drones which are not to susceptible to jamming, hacking, or other electronic warfare interception measures. All of these developments mean that the Washington-mediated ceasefire is effectively dead, and as Hezbollah’s asymmetric warfare is likely to ramp up in response.
RUSSIA VS UKRAINE
ROBERT H.
Zelensky Betrays Poland | Armstrong Economics
Having seen the photos of that time. The sickness of the crowd that did this and now condones this is beyond belief.
They were criminals then and still are now. This Nazi like ideology is as sick today as it was many years ago.
During WWII even the Gestapo had to look away from the atrocities being committed.
We should never forget! Because today this same ideology is being practiced in Ukraine and is a blight on all Ukrainians, even those too blind to see it. In the eastern part of Ukraine the same horrid torture of people has occurred. It is convenient to look the other way when political winds blow until the day they do not.
Every politician who gives money to this crowd has blood on his or her hands.
The truth is the real Ukraine of true Ukrainians died with the rise of Zelensky. The millions who have died, died for a lie. It is doubtful that historians will be kind to this period or those whop created it.
It is a good thing to see Poland start wake up as their politicians realize what Zelensky represents.
https://www.armstrongeconomics.com/world-news/war/zelensky-betrays-poland/
6/.GLOBAL ISSUES, COVID ISSUES, VACCINE INJURIES/HEALTH ISSUES
Nicolas Hulscher, MPH on X: “BREAKING: Largest Human Cancer Study of Ivermectin + Mebendazole Is Now PEER-REVIEWED and PUBLISHED in a MAJOR Cancer Journal 84.4% of cancer patients taking ivermectin + mebendazole for 6 months declared either CANCER DISAPPEARANCE, TUMOR REGRESSION, or CANCER STABILIZATION. https://t.co/qYr8jNaUvX” / X
FYI
https://x.com/NicHulscher/status/2060366485730525399
GLOBAL ISSUES//OIL
Shortages And Rationing Loom As Global Oil Reserves Fall At Fastest Rate In History
Saturday, May 30, 2026 – 10:10 PM
Authored by Michael Snyder via The Economic Collapse blog,
No matter what happens now, the world is facing a very painful energy crisis. Let’s be as wildly optimistic as we possibly can and assume that Iran agrees to allow free passage through the Strait of Hormuz with absolutely no tolls or restrictions starting tomorrow. Before normal traffic through the Strait could resume, Iran would first have to remove all of the mines that they have laid in the Strait, and that could take months. Once all of the mines have been removed, it will take the tankers that are currently trapped in the Persian Gulf weeks to arrive at their destinations. Moving forward, Persian Gulf countries will be exporting much less oil and natural gas for the foreseeable future because of all the oil and natural gas infrastructure that was damaged or destroyed during the war. It will take years before all of that infrastructure is fully repaired and rebuilt. Meanwhile, global supplies of oil and natural gas will be very tight for an extended period of time..
What I have just laid out for you is the best case scenario.
Ultimately, what we end up facing could be so much worse.
Over the past couple of months, global oil reserves have been falling at the fastest rate ever recorded…
Record inventory draw: Global oil stocks have fallen by 246 million barrels in March-April, with draws in May hitting a record 8.7 million barrels per day.
Hormuz closure impact: The Strait of Hormuz shutdown has cut off 25% of the world’s seaborne oil, compounding already low reserves and boosting prices.
US price outlook: Analysts expect U.S. gasoline prices could reach $5 this summer unless flows resume, with relief unlikely before autumn.
Needless to say, this is not sustainable.
Here in the United States, the strategic petroleum reserve has been dropping at a record-breaking pace…
The SPR’s most recent drawdown, covering the week ended May 22, shows a drop of 9.1 million barrels, leaving the reserves at 365 million barrels. The previous weekly drawdown, covering the week of May 15, was its steepest on record — the U.S. withdrew 9.92 million barrels from the SPR then.
Before that record-breaking decline, the largest weekly drop in the SPR’s history occurred in the week ended Oct. 7, 2022, when the reserves dropped by 7.41 million barrels, and was connected to the war in Ukraine.
Commercial oil inventories are being rapidly depleted as well.
At some point the tanks are going to hit minimum operating levels and we are going to have an enormous crisis on our hands.
The chief economist at Capital Economics is projecting that commercial oil inventories “could reach critically low levels by the end of June”…
“At the current pace of drawdown, commercial oil stocks could reach critically low levels by the end of June,” Neil Shearing, chief economist at Capital Economics, wrote in a research note on May 18.
If supply conditions don’t improve soon, “prices could rise sharply,” Shearing warned.
Jeff Currie is warning that Asia is already very close to minimum operating levels, and he is projecting that the U.S. could potentially be dealing with shortages in July…
Oil markets are nearing minimum operating levels in Asia, with Europe likely next and the U.S. potentially facing shortages by July, said veteran market strategist Jeff Currie on Monday, underscoring the global energy shock due to the Iran war.
Headline global inventory figures can be misleading as much of the oil stored worldwide cannot be used immediately, said Currie, Carlyle’s chief strategy officer of energy pathways and co-chairman of Abaxx Markets.
A large portion of that oil is needed to keep pipelines and storage systems running safely, leaving only a smaller share available for the market. Asia is already close to these so-called “minimum operating levels,” Currie told CNBC on the sidelines of the UBS Wealth Conference in Singapore.
This is really happening.
The Australian government is so concerned about what is ahead that they have already prepared a plan to limit the amount of fuel each vehicle can purchase per day when that becomes necessary…
Contained in documents obtained by Guardian Australian under freedom of information, one option the government had at its disposal to arrest a local fuel supply shortage would be to impose a “maximum transaction value per vehicle per day” – a rationing rule which would limit how much fuel a single vehicle can buy at a service station over a 24-hour period.
If the Strait of Hormuz does not get reopened, we could eventually see similar measures get implemented all over the world.
Of course rationing of motor oil has already started…
Nissan is rationing 5W-30 and 0W-20 Nissan Genuine Motor Oils. Starting this week, Nissan’s stock of these oils has dropped by 30% year-on-year. With only 70% left in the tank, the brand is already taking precautions, sending memos to dealers to manage its stock during the shortage.
The brand will prioritize certain owners, such as those claiming “warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” according to Kim Less, the vice president of aftersales at Nissan Americas, in the bulletin addressed to Nissan dealers.
“Given these constraints, it is critical to prioritize the use of Nissan Genuine 0W-20 (and 5W-30, where applicable) for warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” Kim Less, vice president of aftersales, Nissan Americas, said in the May 15 bulletin to Nissan dealers.
I would encourage my readers to stock up on motor oil while they still can.
Supplies are only going to get tighter from this point forward.
The pharmaceutical industry is also very dependent on raw materials from the Middle East, and one pharmacist is claiming that the current drug shortage is the “worst I’ve ever known”…
Some people living with heart conditions, stroke risks, eye infections and bipolar disorder are among those unable to get the medications they rely on, a pharmacist has said.
Graham Jones, who owns Shrivenham Pharmacy in Oxfordshire, said vital medication like aspirin was harder to obtain because of surging global prices and government funding which was not keeping up with costs.
Jones said the current medication shortage was the “worst I’ve ever known”.
Personally, I am even more concerned about the global fertilizer shortage.
The UN is telling us that we could be facing a worldwide food crisis that could last for “years”…
The de facto closure of the Strait of Hormuz risks a global food crisis that could extend for years, the UN warned.
Global fertilizer companies have slashed production over shortfalls of sulphur, required to make many farming inputs; about half of the global supply passed through the strait before the Iran war.
As a result, farmers are likely to produce lower yields in coming harvests. Richer economies like those in Europe are mulling building fertilizer stockpiles, reducing duties on imports, and onshoring production, but poorer ones have limited room to adapt.
I want to be very clear about what lies in front of us.
No matter what happens now, there will be shortages and rationing.
It is just a matter of how intense they will be and how long they will last.
Needless to say, the outlook for the global economy in the months ahead is not promising at all.
We really do have a major crisis on our hands, and it will become a historic nightmare if the Strait of Hormuz does not get reopened soon.
Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
END
MARK CRISPIN MILER
US: influencer Brooke Eby has ALS; BR: Pres. Lula da Silva has skin cancer; UK: talkSPORT’s Mike Perry has skin cancer; VI: influencer Dan Thy, 23, has leukemia; AU: Kylie Minogue has 2nd cancer
US: Nikki Exotica (“90 Day Fiancé) has emergency quadruple bypass surgery; IN: Jenny Slatten (“90 Day Fiancé”) has ALS; GR: Deputy Minister of Health Eirini Agapidaki rushed to hospital; more
| Mark Crispin MillerMay 30 |
A survey of the likely global toll of COVID “vaccination,” based on the reports collected by our worldwide team of researchers this past week.
To help support our work, consider subscribing or making a donation.
Celebs
UNITED STATES
’90 Day Fiancé’ star Nikki Exotica undergoes emergency quadruple bypass surgery as her mom pleads for help
May 20, 2026
“90 Day Fiancé” star Nikki Exotica has been hospitalized after undergoing emergency quadruple bypass surgery. Nikki’s mom, Myrna, gave an update on her daughter in an Instagram video Tuesday. In the alarming video, Nikki, 50, slept on a hospital bed with both of her arms bandaged up. Myrna said the surgery lasted seven hours, and that a team of 25 people worked on the reality star. Originally, Nikki – whose real name is Nicole Sanders – was supposed to undergo a triple bypass surgery, but she ended up needing to have quadruple bypass surgery. An emotional Myrna shared that Nikki had to be put on a breathing machine after surgery, and told fans that she started a GoFundMe to help cover Nikki’s living expenses. “She’s gonna be out for a while and she needs help,” Myrna said, fighting back tears. In her GoFundMe, Myrna shared that her daughter had been experiencing chest pain, heartburn, shortness of breath, and difficulty while walking and exercising, and went to multiple doctors to find out what was wrong. Though she was given a clean bill of health, Nikki – who’s a singer – nearly collapsed onstage while performing. Myrna said Nikki then suffered a mild heart attack a few days ago and was hospitalized. “Doctors performed an angiogram and discovered that her arteries were severely calcified and blocked,” she wrote. “Unfortunately, they were unable to perform an angioplasty or place stents because the blockages were too extensive.”
News from Underground by Mark Crispin Miller is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Researcher’s note – Scroll down to India for another 90 Day Fiancé star’s recent health woes.
Influencer Brooke Eby, 37, Says She Feels Like a ‘Ticking Time Bomb’ 4 Years After ALS Diagnosis
May 18, 2026
Brooke Eby got vulnerable in a new video as she opened up about the hardest reality of her illness. The content creator, 37, has continued her annual tradition of answering viewers’ questions about her amyotrophic lateral sclerosis (ALS) in honor of May being ALS Awareness Month. On Sunday, May 17, Eby – who was diagnosed with the neurodegenerative disease in 2022 – posted a video responding to a comment asking, “Are you afraid?” Speaking below a nasal device, Eby explained how her feelings recently shifted in a significant way. She said that “up until a month ago,” her answer to the question about her fear would reflect a more positive outlook on the situation. “I would have said, ‘No. I’m totally at peace. I’ve lived [the] luckiest life. I feel like I was born lucky,’” said Eby. However, she said that it’s rattling now to think about the instruments that help her breathe and how vital they are. “Knowing that I only have two minutes off this breathing machine until I’m gone, girl, I’ve started to get a lot more scared,” said the social media star. Eby said she doesn’t feel that fear all the time, but she does experience a “panic or rush” wondering whether or not she’s “done enough” in her lifetime. On one hand, she said she gets scared of thinking about what’s going to happen to the people in her life after she dies. Eby also admitted that she has “started feeling like a ticking time bomb,” and she didn’t necessarily expect to feel that type of anxiety at this stage of her progression. “I thought people said they were more at peace in the end, but I feel like I’m having the opposite now. I’m just like, ‘Ah! How is it gonna happen? When is it gonna happen?’” Eby reflected.
Bradstock discloses cancer diagnosis, says he’ll continue PA-14 campaign
May 19, 2026
Connellsville, Pennsylvania – It is not the sort of announcement one expects on the eve of a primary election. However, to his supporters on Facebook Monday night, Democratic 14th District Congressional hopeful Alan Bradstock said, “I want to share something deeply personal with you. I was recently diagnosed with prostate cancer.” Bradstock was unopposed Tuesday for the Democratic nod for a general election challenge of House Majority Chief Deputy Whip Guy Reschenthaler, R-Peters Township, who was unopposed in the GOP primary in the district stretching from the Indiana area to the southwest corner of Pennsylvania. “The good news is that it was found early, and my doctors and I have a clear treatment plan that will begin soon,” Bradstock, a Connellsville area resident, posted. “My prognosis is excellent and I will continue campaigning across PA-14 without interruption.”
No age reported.
Trotwood mayor suffers medical emergency during speaking engagement
May 22, 2026
MONTGOMERY COUNTY, MD – Trotwood Mayor Yvette F. Page suffered a medical emergency while speaking at an event late Friday morning. This happened while Page was delivering remarks to a senior group at the Montgomery County Fairgrounds shortly before noon, according to a statement from Deputy City Manager Stephanie Kellum. “Mayor Page was promptly attended to and subsequently transported by the Trotwood Fire Department for medical evaluation and care,” the statement read. There are no additional details regarding Page’s condition available at this time.
No age reported.
BRAZIL
Early Form of Skin Cancer Diagnosed in Brazilian President Lula da Silva
May 25, 2026
An early form of skin cancer has been diagnosed in Brazilian President Luiz Inácio Lula da Silva [80]. He will now undergo 15 radiation sessions, though his staff emphasize that the president can continue his daily activities. On April 24, doctors for Brazilian President Lula da Silva removed a basal cell carcinoma from his scalp. Basal cell carcinoma is one of the most common forms of skin cancer, typically resulting from prolonged exposure to the sun’s UV rays. The doctors have now begun a course of preventive radiation therapy, serving as a supplement to the procedure performed on his scalp. The treatment is expected to consist of 15 sessions in total, aimed at preventing the cancer from spreading. The therapy is scheduled to last a total of three weeks. In the meantime, the president is continuing with his work as usual, according to Da Silva’s team. “The president will continue his daily activities without any restrictions.” This is not the first time the Brazilian president has faced cancer. In 2011, Da Silva underwent treatment for throat cancer, for which he required chemotherapy.
Researcher’s note – According to AI: Brazilian President Luiz Inácio Lula da Silva has been fully vaccinated against COVID-19, receiving his first dose of the Chinese-developed CoronaVac in March 2021. He consistently supported immunization efforts and later received his fifth shot—a bivalent booster-administered by Vice President Geraldo Alckmin in February 2023 to launch Brazil’s National Vaccination Campaign. Key Details of Lula’s Vaccination Record: First Dose: March 13, 2021, at age 75 in São Bernardo do Campo (CoronaVac). Second Dose: Early April 2021. Bivalent Booster (5th Dose): February 27, 2023, at the launch of the National Immunization Movement in Brasília. During the pandemic, Lula was a vocal proponent of vaccines, frequently criticizing the denialism of the previous Jair Bolsonaro administration and urging the public to follow scientific guidance and complete their vaccination schedules.
UNITED KINGDOM
Veteran presenter announces cancer diagnosis on live TV amid ‘painful’ treatment
May 22, 2026
Former talkSPORT presenter Mike Parry has announced that he has been diagnosed with skin cancer. The broadcaster – who left the radio station in 2019 after two decades behind the microphone – appeared on Channel 5 show Storm and Alexis on Thursday morning to discuss his diagnosis. Parry, who is also a regular on GB News shows and Jeremy Vine, revealed that he had been diagnosed after spotting two growths on his face, which were later confirmed to be cancerous. Discussing his health, the 71-year-old revealed that a wound on his eyebrow, which he sustained in an incident over 50 years ago, had reopened and refused to heal. He also admitted that he had lived with what he described as a “bubble” on his nose for the last 10 years, but, along with the eyebrow wound, it had now been found to be cancerous following “thorough checks”. After undergoing biopsies on his face and shoulder, he is now scheduled for further hospital treatment. He revealed that additional cancerous areas had been discovered, but these were dealt with immediately and “frozen off”. However, he admitted that the treatment was “quite painful”. Admitting that he has “always disliked the sun”, Parry was left confused at how he had come to be diagnosed with skin cancer, but was told by a doctor that, at his age, anyone can develop it. “I am the least likely victim of getting skin cancer by exposure to sunlight or sunrays,” he added.
Researcher’s note – Mike Parry has hit out at anti-vaxxers, saying if they do not get a vaccine [sic], they will have to pay for their NHS treatments: https://www.express.co.uk/showbiz/tv-radio/1522127/Mike-Parry-non-jabbed-britons-NHS-care-pay-coronavirus-Jeremy-Vine-news-vn
DENMARK
Queen Margrethe of Denmark, 86, Hospitalized for Blood Clot Less Than 2 Weeks After Heart Attack
May 25, 2026
Queen Margrethe of Denmark has been admitted to the hospital for the second time in as many weeks. The Royal House announced the former monarch’s latest medical update on Monday, May 25, saying in a press release, “Her Majesty Queen Margrethe has been admitted to Rigshospitalet and has been treated, after a CT scan showed a large blood clot in the hip region as a result of a previous fall. It is expected that Queen Margrethe will now be hospitalized for a number of days,” the statement continued. “Her Majesty is doing well under the circumstances.” This latest treatment comes just 11 days after Amaleinborg Palance announced the Queen, 86, was undergoing treatment at the same hospital after suffering a heart attack.
Researcher’s note – Queen Margrethe II of Denmark was the first European monarch to publicly announce receiving the COVID-19 “vaccine”, with her first dose administered on January 1, 2021: Link
Hideo Kojima’s wildest prediction from Death Stranding recently came true
May 21, 2026
When promoting the upcoming Her Private Hell at the Cannes film festival, director Nicolas Winding Refn [55] of Drive fame talked about a rare health condition he’d dealt with in the recent past. Wild story to hear, for sure, but one that surely would’ve resonated more with Death Stranding fans. Refn spoke about how in 2023 he “died for 25 minutes,” an incredible amount of time to be anything nowadays, but dead, especially. It happened because of a very unexpected heart condition that caused fluid to leak into his lungs. That’d be strange for anyone, but Refn is the man who gives his likeness to the character of Heartman in 2019’s Death Stranding, a character who, due to a fictional disease the game calls myocardial cordiformia, is only alive for 21 minutes at a time, then has to go into cardiac arrest before resetting and living normally for another 21 minutes.
CZECH REPUBLIC
New details emerge after young Sabres forward suffers serious medical emergency
May 20, 2026
Jiri Kulich [22] gave Buffalo Sabres coach Lindy Ruff a massive off-season lift when he confirmed he’ll be able to play again. That news hit harder because Kulich’s season didn’t just end quietly. It stopped after a medical issue that put hockey on hold and left his future in real doubt. The young Buffalo forward said he underwent a procedure in Minnesota to remove a blood clot. He’s been skating, shooting, and building himself back up after months away from game action. This matters because Kulich had not played since November.
Researcher’s note – For the coming season, players are not required to have received the COVID-19 vaccine [sic], but are strongly encouraged to do so as well as keep up with the booster doses they are eligible for: https://thehockeynews.com/news/news/nhl-announces-covid-19-policy-for-2022-23-season
GREECE
Panic in the Greek parliament! Deputy Minister of Health feels unwell, urgently transported to hospital
May 22, 2026
An unexpected incident was recorded today in the premises of the Greek Parliament, where Deputy Minister Eirini Agapidaki [46] felt unwell during her stay at the institution. According to Greek media reports, Agapidaki has shown breathing problems and shortness of breath, while a low level of oxygen in her blood has also been detected. She was immediately taken to the Parliament’s infirmary to receive first aid, while an EKAB emergency service ambulance later arrived at the scene to transport her to the hospital. Her condition has not yet been officially announced, while authorities continue to monitor the situation.
Researcher’s note – Eirini Agapidaki is Greece’s Alternate Minister of Health, spearheading national vaccination [sic] and preventive public health initiatives. Her work focuses on increasing adult immunization coverage, expanding preventive health registries, and launching government initiatives to scientifically refute anti-vaccination: https://www.ekathimerini.com/news/1284348/eody-to-launch-office-to-combat-fake-health-news/
INDIA
Another 90 Day Fiancé reality star:
90 Day Fiancé Star Jenny Slatten Reveals She Has Been Diagnosed with ALS
May 19, 2026
Jenny Slatten has been diagnosed with ALS. The 90 Day Fiancé star, 68, and her husband Sumit Singh, 38, revealed her diagnosis in an exclusive interview with PEOPLE ahead of their appearance on season 3 of 90 Day: The Last Resort, which premieres June 1. The couple – who live in India and have been franchise favorites since they first appeared on The Other Way in 2019 – learned of Jenny’s diagnosis in December 2025, one year after she started experiencing symptoms. Now, Jenny and Sumit are opening up about dealing with the diagnosis, supporting each other and navigating their new reality. “We’re doing what we can,” Jenny says.
Researcher’s note – Slatten and Singh tested positive on the same day they were supposed to receive the COVID-19 “vaccine”: https://www.soapoperaspy.com/2021/90-day-fiance-alum-jenny-slatten-looking-great-following-covid-19-recovery/amp/
VIETNAM
Influencer Diagnosed With Leukaemia After Daily Bubble Tea Habit
May 21, 2026
Đan Thy, a Vietnamese beauty influencer with over 11 million TikTok followers, disclosed her leukaemia diagnosis following months of severe exhaustion. The 23-year-old shared her condition in a video posted on 18 May, explaining that her habit of drinking five bubble teas a day instead of water may have contributed to her health issues. Living in Ho Chi Minh City, Đan admitted to unhealthy routines developed over three years as a content creator, including staying awake until 6 or 7am, taking late-night showers, and consuming mainly sugary drinks such as bubble tea and matcha lattes rather than fresh water. Medical experts at the Blood Transfusion and Hematology Hospital confirmed her leukaemia diagnosis after she became severely ill. Đan reflected on her lifestyle, stating, “I thought, as I don’t smoke or drink alcohol, that my body would be fine.” She acknowledged now regretting ignoring early warning signs and urged young people to take their health seriously, emphasizing that youth does not guarantee immunity from serious illnesses. The influencer’s video quickly gained over 24 million views on TikTok and sparked widespread discussion in Vietnam about the risks of irregular sleep, poor hydration, and excessive sugar intake among young content creators. She has paused her work commitments to prepare for intensive chemotherapy sessions but has not disclosed further medical details regarding the type or stage of her leukaemia. Despite Đan attributing her illness to her past habits, medical professionals have clarified that factors like sleep deprivation and sugary drink consumption are not recognized causes of leukaemia.
AUSTRALIA
Pop Star Reveals Secret Second Cancer Diagnosis
May 20, 2026
Kylie Minogue has revealed how she kept her second breast cancer diagnosis private while embarked on a huge career comeback. In a new Kylie documentary released on Wednesday, the Australian pop superstar said the diagnosis came more than 15 years after her first highly public battle with breast cancer in 2005. “My second cancer diagnosis was in early 2021. I was able to keep that to myself… Not like the first time,” she said. Minogue said she recovered but struggled with whether-and when-to tell people. Minogue added that a routine check-up led to the diagnosis and urged others not to skip their own screenings: “Early detection was very helpful.”
Researcher’s note -Kylie Minogue was one of the celebrities who participated in the 2021 Global Citizen Festival. Among the objectives of Global Citizen was to increase COVID “vaccine” uptake, and “vaccine” access: https://www.globalcitizen.org/en/content/global-citizen-live-everything-to-know/
Brisbane stylist Sarah Strozkiy shares son’s terminal diagnosis: ‘It’s really hard to hold onto hope’
May 22, 2026
A Brisbane stylist is overwhelmed by the outpouring of support after sharing her two-year-old son’s devastating diagnosis with a rare, degenerative disease. Sarah Strozkiy, who uses the handle @shessoseasonal on Instagram, was in tears as she told her 129,000 followers that her two-year-old son, Sonny, has a progressive condition called Batten disease. Batten disease is a terminal genetic disorder that prevents cells from clearing waste. “It starts with speech delay, seizures, and being off-balance, which is what he currently has right now,” Strozkiy said. “The next phase of that is blindness, not able to swallow, not able to move, and then … you know. And there is no cure.” Strozkiy said the life expectancy was between six and 12. Sonny, who turns three in July, was just one of three children in Queensland and one of 16 in all of Australia living with the disease, his mother said. Next week, Sonny will undergo brain surgery to insert a port in his head, followed by fortnightly infusions. “I think the hardest part of this is that there have been zero cases of survivors,” Strozkiy said.
If you like “News from Underground” (or hate it, but get something out of it), please read
DR PAUL ALEXANDER
END
RABOBANK/MICHAEL EVERY/OR OR PICTON/GIFFIN OR RABOBANK EXECUTIVE/COMMENTARY ON WORLDLY AFFAIRS
Them’s Fightin’ Words
By Benjamin Picton, Rabobank Senior Market Strategist
Resigned
Brent crude front-month futures are inching higher this morning after ending May down almost 20%. The May selloff has been courtesy of Mr Market’s Pavlovian response to fresh peace rumours, though it still remains the case that a deal has not been done and the Strait of Hormuz remains closed.
US equity indices closed higher across the board on Friday, but Asian stocks are mixed in early trade today. The S&P500 has now had nine-consecutive positive weekly closes and is sitting at a fresh all-time-high, with futures pointed at further gains when markets open later today.
While crude futures are lower, spot prices for Malaysian Tapis crude are proving a little more sticky and are still trading around the levels seen through late May and early April. Singapore gasoil (diesel) spot prices are testing support at $135/bbl, but even at those short-term lows prices are way above the $90.41/bbl recorded on February 26th (the last close before the war started) or the January prices in the high $70s, before the market started to price in what two carrier groups in the Middle East might mean.
Gold prices rose by 0.68% last week. This was the first positive weekly close since May 8th, and another example of markets respecting the $4,500/oz support level. Gold is now trading at levels similar to those seen in late December and early January as a number of central banks liquidated holdings in a scramble for Dollar liquidity earlier in the Hormuz crisis.
Sovereign yields are moving higher this morning after falling for much of last week. US 2-year yields are up 2bps to 4.04% in early trade, Aussie 2s are up 4bps to 4.56%, but New Zealand 2s are curiously flat after a hawkish RBNZ last week and a national budget that showed fiscal tightening will be delayed beyond the 2026/27 financial year. Moves at the longer end are even more pronounced, with 10-year Treasury yields up 3bps to 4.47%.
The shift higher in crude and yields could be a sign of markets beginning to resign themselves to the idea that a deal will remain elusive in the short term. The creep from “any minute now” this time last week to “maybe, or maybe not” is underway. Regular readers will know that RaboResearch updated our baseline view on the Hormuz crisis last week to suggest that the Strait is likely to remain mostly closed through to September as the parties to negotiations find that their red lines over Iran’s nuclear program are (still) incompatible, and the Iranians realise that giving up their oil market leverage would be a foolish thing to do.
A bad sign arrived this morning with the news that Iranian President Pezeshkian had offered his resignation to Supreme Leader Khamenei. Pezeshkian has reportedly claimed that he is unable to run the government and carry out his responsibilities, because the civilian government has been sidelined by the hardliners in the IRGC – the guys with the guns. This is a new angle on the view that various factions in Iran are competing with each other, and that there are large disagreements on how negotiations with the US should be handled, or if they should be happening at all.
Donald Trump raised some eyebrows yesterday when he said that the Iranian military (the Artesh) is ‘moderate’ and had been left alone during American strikes. This places Pezeshkian, foreign minister Araghchi, and possibly parliamentary speaker Ghalibaf (newly re-appointed) alongside the Artesh in the ‘moderate’ camp willing to do a deal, while the IRGC resists agreement with the US and insists on Iran’s rights over Hormuz and the progress of its nuclear program. We think that it will take longer yet before the IRGC sees eye-to-eye with the moderates, and that a continued closure with risks of further strikes is more likely than an agreement that is amenable to all and satisfies Donald Trump’s need to sign something that looks better than Barack Obama’s JCPOA. Of course, it may be the case that the much-maligned JCPOA was maligned for a reason. To paraphrase Solon of Athens, the JCPOA might not have contained the best terms, but it might have contained the best terms all parties could be induced to accept.
While the Hormuz issue drags on, the Ukraine war also continues to percolate and threatens to spread into Europe. Ukraine is deepening cooperation with EU states over drone technology, which has been used to great effect against Russian energy targets in recent months. Meanwhile, a Russian drone reportedly struck an apartment building in NATO member country Romania late last week.
Former Russian President and close Putin ally Dmitry Medvedev took to X to warn “Citizens of EU countries, You should realize your authorities have unilaterally entered into a war with Russia. So be vigilant and don’t be surprised by anything. The peaceful sleep is over…” To quote Yosemite Sam: “them’s fightin’ words”.
Clearly the Kremlin is not happy that Europe is continuing to support Ukraine in a conflict that some analysts are now saying has turned in the latter’s favor.
7. OIL AND NATURAL GAS ISSUES
USA/LNG
America’s LNG Boom Is Real – But China Is Planning Beyond It
Sunday, May 31, 2026 – 02:00 PM
Authored by Cyril Widdershoven via OilPrice.com,
- The Iran war and Hormuz disruption have turbocharged U.S. LNG exports, giving Washington a major short-term energy dominance boost as Asia and Europe scramble for alternative supply.
- China, however, enters the crisis from a position of greater energy resilience after years of investment in domestic production.
- The U.S. still has a major long-term opportunity, but sustaining dominance will require turning crisis-driven demand into lasting partnerships.
The Iran war has handed the United States a rare opportunity: a new dawn of energy dominance in an increasingly fractured world. With coordinated US-Israeli strikes disrupting the Strait of Hormuz from late February, roughly 20% of global LNG supply has been stripped from the market since early March. Prices have surged across Asia and Europe. And into that vacuum, American gas has flowed.
The numbers speak for themselves. US LNG exports to Asia jumped sharply in April, with nearly a quarter of all American cargoes heading to a region that simply cannot afford to go dark. Deals are being signed, pipelines planned, and $100 billion in private investment is pouring into liquefaction plants and terminals, putting the US on a trajectory toward 220 MTPA of export capacity within five years. The administration’s energy dominance agenda, backed by promises to streamline permitting, has given producers a powerful political tailwind and reassured global buyers seeking reliability. Washington’s case for American LNG has never been easier to make.
But dominance built on a crisis is not the same as dominance built on trust. And there is a competitor watching this moment very carefully.
China entered this crisis in a structurally different position. Two decades of sustained investment in domestic energy production, spanning generation, storage, and distribution, have left Beijing considerably less exposed to the supply shocks rattling Western and Asian markets alike. Its economy has not been immune, but it has been buffered. That resilience has not gone unnoticed by governments scrambling to explain surging energy bills to their populations. While the US capitalises on the immediate demand surge, China is quietly accumulating something more durable: the perception of strategic foresight.
Yet beneath the boom lies a fault line. The conflict has been a short-term windfall for American producers; cash is flowing and the geopolitical case for US LNG writes itself. But the longer the crisis persists, the more urgently governments around the world will prioritise the same fundamental objective: never being held hostage to a single chokepoint again. The Hormuz disruption has concentrated minds in a way that years of energy dialogues have never quite managed. Countries across Asia and Europe are now accelerating plans to diversify supply sources, build strategic reserves, and develop domestic generation capacity across every available technology. The goal is insulation from the kind of shock this war has delivered, and that shift in priorities will outlast the conflict itself, because the memory of this vulnerability will not fade quickly.
This does not mean the window for American gas has closed. The transition to more resilient, independent energy systems will take decades, and reliable LNG from a powerful economy is precisely what energy-hungry Asian economies need throughout that journey. The US has the reserves, the infrastructure, the financial markets, and the geopolitical credibility that no other supplier can currently match. But Washington cannot afford to mistake a crisis-driven demand surge for a permanent structural advantage, because what buyers are ultimately building toward is a system in which no single disruption, whether in the Strait of Hormuz or anywhere else, can send their economies into shock again. The US needs to be architected into that system as an indispensable partner, not treated as an emergency option.
That requires more than competitive pricing and export capacity. It requires the kind of long-term supply relationships, infrastructure partnerships, and government-to-government commitments that turn a transaction into a dependency, the good kind, built on reliability rather than vulnerability. It requires Washington to show up as a strategic partner invested in the energy security of its buyers. And it requires the Iran conflict to reach a resolution that restores stability to global flows, because sustained disruption ultimately accelerates the very diversification strategies that could reduce the world’s reliance on any single fuel source.
That is why forums like Gastech matter far beyond the conference floor. At Gastech 2025 in Milan, a high-profile US delegation led by Secretary of Energy Chris Wright and Secretary of the Interior Doug Burgum used the event to demonstrate Washington’s commitment to the global market and deepen long-term partnerships with European buyers. This September, the same strategic imperative shifts to Asia, as Gastech convenes ministers, industry CEOs, and technology leaders in Bangkok around the urgent supply security and resilience priorities now defining the global energy agenda. Bangkok demands the same level of engagement, but with even greater stakes. Positioned at the heart of the world’s fastest-growing demand region, it is where the contracts signed today will shape the architecture of energy relationships for the next decade. It is where the US can arrive not only as the world’s largest LNG exporter, but as the partner that helped Asia build the resilient, diversified, and secure energy systems its economies need, with American technology, American capital, and American gas at the centre of that architecture.
The use of energy as a diplomatic instrument, as a foundation for alliances and a signal of long-term intent, has already demonstrated its capacity to stabilise relationships and strengthen the position of reliable partners. But leverage only holds if buyers believe the relationship will endure beyond the current emergency. And that is ultimately what is being decided right now: whether the world organises its energy future around American reliability, or looks elsewhere for the security guarantees it needs.
American energy dominance is real, and the Iran war has made that case powerfully. But dominance has to be earned continuously, through the infrastructure being built, the contracts being signed, and the diplomatic relationships being deepened, conference room by conference room, deal by deal. The window is open. What matters now is how Washington chooses to use it.
END
CALIFORNIA//carbon taxes
Green Retreat: California Eases Carbon-Market Costs For Oil Refiners
Saturday, May 30, 2026 – 06:05 PM
California’s green-energy regime has hollowed out the state’s refining and oil industry, leaving motorists paying the highest gasoline prices in the country. AAA data show the state gasoline average now north of $6 per gallon, compared with a national average of roughly $4.36 as of Saturday morning.
The result of political blowback in California over unaffordable gasoline and diesel prices at the pump is a retreat from left-wing climate policies that could offer relief to motorists, Bloomberg News reports.
On Friday, the California Air Resources Board voted to create up to $4 billion in free carbon allowances for oil refiners and other industrial polluters. This will help them more easily comply with the state’s greenhouse gas limits under the Cap-and-Invest program.
Earlier this year, CARB proposed further tightening emission limits by removing 118 million allowances from the market to keep the state on track to meet its 2030 climate targets. For refiners, that would mean further reducing emissions or paying more for allowances, with mounting costs already pushing them out of the state.
The move will help contain gasoline prices at the pump and prevent refiners from leaving the state, especially after energy disruptions in the Gulf region pushed California gasoline prices above $6.
Take US oil giant Chevron, which recently warned that California is careening toward an energy crisis because of the Iran war, and that the company may quit refining oil in the state unless officials roll back taxes and regulations.
California is highly exposed to the disruption rippling through commodity markets, as it imports about 20% of its refined fuels from Asia. But as extensively discussed here, oil product shipments from China, South Korea, Singapore, and elsewhere have been disrupted, leaving Asian nations struggling to meet domestic demand, let alone export to California.
Chevron’s oil refining head Andy Walz recently warned that the potential for fuel shortages in California is his worst fear: “We have refineries in Asia that are having to cut crude, and so they’re going to make fewer products,” Walz said in an interview in late March. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?”
Since California is disconnected from the U.S. fuel-making centers of Texas and Louisiana, it is essentially an energy island.
Walz noted in March, days after the U.S.-Iran conflict broke out, that tightening California’s cap-and-invest program “made no sense when you look at global tensions right now.”
California’s green regime has produced nothing but disastrous consequences for households, making fuel prices the highest in the nation:
There are national security implications stemming from the green regime, especially for the state with the nation’s largest concentration of military personnel and national security activity.
The retreat on climate targets by state regulators is a win for consumers and the nation, as green is nothing more than inflationary and degrowth, hitting working-poor households the hardest with unaffordable gasoline and diesel prices at the pump.
Elsewhere, the US-Iran conflict has forced left-wing states such as New York, Massachusetts, and others to dial back unrealistic climate ambitions.
END
U.S. Oil Reserves To Dry Up Before August?
by Tyler Durden
Monday, Jun 01, 2026 – 12:00 PM
As oilprice.com asked earlier this week, why hasn’t oil hit $150 (yet)?
Tonight at 7 PM ET, ZeroHedge will host two former Goldman heavyweights to answer the question: is the recent oil price surge merely a temporary geopolitical shock, or are we entering a period of structurally higher energy prices?
Joining the discussion are former colleagues Jeff Currie, now chief strategy officer for energy pathways at the Carlyle Group, and Arjun Murti, Partner at Veriten. The conversation will be hosted by Real Vision’s Ash Bennington.
After five potential deals to re-open the Strait of Hormuz and none resulting in a full resumption of traffic, Currie’s betting that it won’t be different this time:
Interesting highlight by Jim Bianco: “If you bought the crude oil collapse every time Trump said the war is over, you made $58, even though the price is only up $27 since the war started.“
Even if it is different this time, Currie has argued that global oil markets were already facing structural supply shortages before tensions with Iran escalated, with years of underinvestment leaving the system increasingly vulnerable to disruptions. In his view, the current conflict has simply accelerated a trend that was already underway, bringing forward a period of sustained higher oil prices that many investors have yet to fully appreciate.
Strait closure + baked in supply constraints, he says, could mean American storage tanks run dry as soon as July 4… just in time for the big 250 celebration.
Murti likewise remains bullish oil. Last October, he joined ZeroHedge for a debate on the price outlook and argued that crude prices were headed higher… a peaceful time when WTI crude sat at $60/barrell. The months that followed validated Murti so let’s see if that happens again.
Together, Currie and Murti will examine whether current oil prices fully reflect the underlying supply picture, how much of today’s rally is attributable to Iran, what role U.S. foreign policy may play going forward, and whether investors should prepare for a prolonged period of elevated energy prices.
See you tonight at 7pm ET, here on the ZH homepage, X feed, or YouTube channel.
8. EMERGING MARKETS//AUSTRALIA NEW ZEALAND ISSUES
YOUR EARLY CURRENCY/GOLD AND SILVER PRICING/ASIAN CLOSING MARKETS AND EUROPEAN BOURSE OPENING AND CLOSING/ INTEREST RATE SETTINGS MONDAY MORNING 6;30AM//OPENING AND CLOSING
OPENING LEVELS OF CURRENCIES// AND CLOSING ASIAN STOCK MARKET AND OPENING EUROPEAN STOCKS:6 AM EST
EURO VS USA DOLLAR: 1.1654 UP 0.0002
USA/ YEN 159.47 UP 0.255 NOW TARGETS INTEREST RATE AT 1.75% AS IT WILL BUY UNLIMITED BONDS TO GETS TO THAT LEVEL…//YEN STILL FALLS//END OF YEN CARRY TRADE BEGINS AGAIN DEC 2024/Bank of Japan raises rates by .25% TO 1.75 ..TAKAICHI NEW PM AS YIELDS RISE//JAPAN DEEPLY IN TROUBLE WITH RISING RATES AND A FALLING YEN!!
GBP/USA 1.3459 UP 0.0020 OR 20 BASIS PTS
USA/CAN DOLLAR: 1.3817 UP 0.0017 //CDN DOLLAR DOWN 17 BASIS PTS//
Last night Shanghai COMPOSITE CLOSED DOWN 10.83 PTS OR 0.27%
Hang Seng CLOSED UP 188.11 PTS OR 0.75%
AUSTRALIA CLOSED UP 0.07%
// EUROPEAN BOURSE: ALL MOSTLY RED
Trading from Europe and ASIA
I) EUROPEAN BOURSES: ALL MOSTLY RED
2/ CHINESE BOURSES / :Hang SENG CLOSED UP 188.11 PTS OR 0.75%
/SHANGHAI CLOSED DOWN 10.83 OR 0.27%
AUSTRALIA BOURSE CLOSED UP 0.07%
(Nikkei (Japan) CLOSED UP 598/90 PTS OR 0.90%
INDIA’S SENSEX IN THE RED
Gold very early morning trading: $4500.95
silver:$75.48
USA DOLLAR VS TRY (TURKISH LIRA): 45.91 PLUS 3 BASIS PTS AND NOW WE SEE THEIR STUPIDITY OF SELLING SOME OF THEIR GOLD AND ALL OF THEIR USA DOLLAR RESERVES. THE COUNTRY IS IN BIG FINANCIAL TROUBLE
USA DOLLAR VS RUSSIAN ROUBLE: 71.81 ROUBLE// DOWN 0 ROUBLE AND 81 BASIS PTS. WOULD YOU BELIEVE THAT THE RUSSIAN ROUBLE AND THE ISRAEL SHEKEL ARE THE STRONGEST CURRENCIES BESIDES THE DOLLAR .
UK 10 YR BOND YIELD: 4.8480 UP 3 BASIS PTS
UK 30 YR BOND YIELD: 5.545 UP 3 BASIS PTS
CDN 10 YR BOND YIELD: 3.413 DOWN 2 BASIS PTS
CDN 5 YR BOND YIELD; 3.052 DOWN 5 BASIS PTS
USA dollar index early MONDAY MORNING: 98.97 UP 12 BASIS POINTS FROM FRIDAY’s CLOSE
MONDAY MORNING NUMBERS ENDS
And now your closing MONDAY NUMBERS 10.00 AM
Portuguese 10 year bond yield: 3.379% UP 7 in basis point(s) yield
JAPANESE BOND 10 yr YIELD: +2.679% UP 2 FULL POINTS BASIS POINTS /JAPAN losing control of its yield curve/
JAPAN 30 YR: 3.918 DOWN 1 BASIS PTS//
SPANISH 10 YR BOND YIELD: 3.436 UP 7 in basis points yield
ITALY 10 YR BOND: 3.759 UP 9 points in basis points yield ./ THE ECB IS QE’ ING ITALIAN BONDS (
GERMAN 10 YR BOND YIELD: 3.0178 UP 8 BASIS PTS
IMPORTANT CURRENCY CLOSES : MID DAY MONDAY
Closing currency crosses for day /USA DOLLAR INDEX/USA 10 YR BOND YIELD/10:00 AM
Euro/USA 1.1624 DOWN 0.0028 OR 28 basis points
USA/Japan: 159.73 UP 0.514 OR YEN IS DOWN 52 BASIS PTS// HIGHLY INFLATIONARY TO JAPAN
Great Britain 10 YR RATE 4.8930 UP 8 BASIS POINTS //
GREAT BRITAIN 30 YR BOND; 5.589 UP 8 BASIS POINTS.
Canadian dollar DOWN 52 BASIS pts to 1.3838
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The USA/Yuan CNY UP TO 6.7651// ON SHORE ..
THE USA/YUAN OFFSHORE// CNH UP TO 6.7695
TURKISH LIRA: 45.90 EXTREMELY DANGEROUS LEVEL/DEATH WATCH/HYPERINFLATION TO BEGIN.//
Your closing 10 yr US bond yield UP 5 in basis points from FRIDAY at 4.505.% //trading well ABOVE the resistance level of 2.27-2.32%)
USA 30 yr bond yield 5.018 UP 2 basis points /10:00 AM
USA 2 YR BOND YIELD: 4.070 UP 6 BASIS PTS.
GOLD AT 10;00 AM 4465.35
SILVER AT 10;00: 74.61
Your 11:00 AM bourses for Europe and the Dow along with the USA dollar index closing and interest rates MON DAY CLOSING TIME 10:00 AM///
London: CLOSED DOWN 70.33 PTS OR 0.68%
GERMAN DAX: CLOSED DOWN 101.66 OR 0.40%
FRANCE: CLOSED DOWN 36.75 PTS PTS PTS OR 0.45%
Spain IBEX CLOSED DOWN 178.00 PTS OR 0.90 %
Italian MIB: CLOSED DOWN 261.59 PTS OR 0.52%
WTI Oil price 92.-1 10.00 EST/
Brent Oil: 95.49 10:00 EST
USA /RUSSIAN ROUBLE /// AT: 72.16 ROUBLE DOWN 1 AND 16 / 100
CDN 10 YEAR RATE: 3.483 UP 6 BASIS PTS.
CDN 5 YEAR RATE: 3.132 UP 8 BASIS PTS
CLOSING NUMBERS: 4 PM
Euro vs USA 1.1632 DOWN 0.0020 OR 20 BASIS POINTS//
British Pound: 1.3458 UP 0.0019 OR 19 basis pts/
BRITISH 10 YR GILT BOND YIELD: 4.885 UP 7 FULL BASIS PTS//
BRITISH 30 YR BOND YIELD: 5.571 UP 8 IN BASIS PTS.
JAPAN 10 YR YIELD: 2.682 UP 3 FULL BASIS PTS (DANGEROUS TO THEIR ECONOMY
JAPANESE 30 YR BOND: 3.915 DOWN 0 PTS AND STILL VERY DANGEROUS TO THEIR ECONOMY
USA dollar vs Japanese Yen: 159.67 UP 0.459 OR YEN DOWN 46 BASIS PTS//GETTING CLOSER TO 160.00
USA dollar vs Canadian dollar: 1.3836 UP 0.0048 PTS// CDN DOLLAR DOWN 48 BASIS PTS
West Texas intermediate oil: 92.44
Brent OIL: 95.26
USA 10 yr bond yield UP 2 BASIS pts to 4.467
USA 30 yr bond yield: DOWN 1 PTS to 4.985%
USA 2 YR BOND 4.041 UP 3 PTS
CDN 10 YR RATE 3.441 UP 3 BASIS PTS
CDN 5 YEAR RATE: 3.091 UP 4 BASIS PTS
USA dollar index: 99.14 UP 29 BASIS POINTS
USA DOLLAR VS TURKISH LIRA: 45.90 GETTING QUITE CLOSE TO BLOWING UP/IDIOTS SOLD GOLD
USA DOLLAR VS RUSSIA//// ROUBLE: 71.96 UP 0 AND 96/100 roubles //
GOLD $4482.30 3:30 PM)
SILVER: 74.83 3;30 PM)
DOW JONES INDUSTRIAL AVERAGE: UP 46.42 OR 0.09%
NASDAQ 100 UP 114.19 PTS OR 0.42%
VOLATILITY INDEX 16.00 UP .68 PTS OR 4.40.%
GLD: $ 411.26 DOWN 5.86 PTS OR 1.40%
SLV/ $67.47 PTS DOWN 0.66 OR OR 0.097%
TORONTO STOCK INDEX// TSX INDEX: CLOSED DOWN 30.49 PTS 0.09%
end
TRADING today ZEROHEDGE 4 PM: HEADLINE NEWS/TRADING
Headline Havoc & Mighty Macro Conjure Another Chaotic Day; Bonds, Bullion, & Bitcoin Battered
WRAP UP
Risk assets mixed on Iran threats and Israel/Hezbollah ceasefire – Newsquawk US Market Wrap
Monday, Jun 01, 2026 – 04:17 PM
- SNAPSHOT: Equities mixed, Treasuries down, Crude up, Dollar up, Gold down
- REAR VIEW: Iran responds to Israeli aggression in Lebanon by halting negotiations and closing Hormuz and Bab al-Mandab Straits; Trump brokers Hezbollah/Israel ceasefire agreement; MSFT and NVDA announce RTX Spark; ISM Manufacturing PMI Beats, Prices ease, Employment rises; Fed’s Powell said Fed will lose credibility if Trump removes officials over policy; OPEC to raise output quotas for July by 188k per day.
- COMING UP: Data: South Korean CPI (May), EZ CPI (May), JOLTs Job Openings (Apr), RCM/TIPP Economic Optimism, New Zealand Export/Import Prices (Q1) Events: NBP Policy Announcement (Jun) Speakers: Fed’s Kashkari, Hammack; BoE’s Bailey, Greene; ECB’s Vujcic Supply: Japan, UK, Germany Earnings: Dollar General, Palo Alto, ULTA Beauty
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MARKET WRAP
US equities ultimately closed mostly higher on Monday, although gains were concentrated in large-cap tech, while the Russell 2000 underperformed and broader sector breadth remained weak outside of Technology and Energy.
Technology was supported by strength in mega-cap names Nvidia and Microsoft after the companies unveiled a new Windows AI superchip, which also lifted related names including Dell, HP and Arm.
Energy outperformed following a raft of geopolitical headlines, with the key update coming from Tasnim, which reported that Iran had halted message exchanges with the US via mediators and was threatening to completely block both the Bab al-Mandab Strait and the Strait of Hormuz. However, sentiment improved through the afternoon as subsequent headlines were more constructive, namely, Trump announcing a Hezbollah/Israel ceasefire, allowing crude prices to retreat from peaks, although both benchmarks still settled firmly higher.
The move higher in crude weighed on Treasuries and lifted the Dollar against most major peers, while precious metals also came under pressure. USD/JPY continued to edge towards the 160 level, a threshold that markets continue to monitor for potential intervention.
On the data front, US ISM Manufacturing surprised to the upside, with a stronger-than-expected headline print accompanied by firmer employment and easing price pressures.
Treasuries later pared some losses after President Trump announced an Israel-Hezbollah ceasefire, helping yields come off session highs.
Looking ahead, focus turns to JOLTS on Tuesday, followed by ADP and ISM Services on Wednesday, before Friday’s key nonfarm payrolls report.
US
ISM MANUFACTURING PMI: The headline ISM Manufacturing PMI print for May rose to 54.0 from 52.7, above the 53.0 consensus. The jump was supported by gains in New Orders to 56.8 from 54.1 and Production to 54.3 from 53.4. Prices, however, saw a welcome drop, albeit remaining elevated at 82.1 from 84.6. Employment meanwhile rose to 48.6 from 46.4. The backlog of orders index rose to 52.2 from 51.4. The higher than expected print is a welcome sign for the US economy, particularly when coupled with upside in employment and an easing of inflation. Respondents broadly highlighted that the escalation in Middle East tensions, particularly around Iran, is driving higher energy and fuel costs, which are feeding through into broader input cost inflation and pressuring profitability. Many firms also cited supply chain disruptions, shipment delays and material shortages, particularly in semiconductors and critical raw materials, with concerns these constraints could worsen if geopolitical tensions persist. Alongside this, uncertainty around tariffs and the wider geopolitical backdrop is making customers more cautious, with some delaying spending commitments and resisting price increases. That said, demand has remained resilient in some pockets, with several respondents still reporting stronger-than-expected sales growth, though optimism is tempered by concerns that sustained higher costs and prolonged instability could squeeze margins and weaken activity going forward.
FIXED INCOME
T-NOTE FUTURES (U6) SETTLE 7 TICKS LOWER AT 109-19+
T-notes bear flattened on Monday as crude prices rallied, although yields came off session highs after President Trump announced an Israel-Hezbollah ceasefire. At settlement, 2-year +4.9bps at 4.051%, 3-year +4.8bps at 4.097%, 5-year +4.7bps at 4.186%, 7-year +4.4bps at 4.324%, 10-year +4.0bps at 4.477%, 20-year +2.5bps at 4.992%, 30-year +1.9bps at 4.993%.
THE DAY: T-notes continued to track swings in crude amid volatile trade. Treasuries hit session lows during the US morning as crude rallied to peaks after Tasnim reported that Iran had halted message exchanges with negotiators due to Israeli actions in Lebanon and Gaza. Iran also warned it would fully shut both the Strait of Hormuz and the Bab al-Mandab Strait.
However, Treasuries recovered from lows after President Trump posted that he had spoken with both Israel and Hezbollah, with both sides agreeing to cease hostilities. The headline saw crude pare a portion of its earlier gains, although oil still settled firmly higher, leaving the curve bear flatter into settlement.
T-notes saw only a modest reaction to the stronger-than-expected ISM Manufacturing PMI, which was accompanied by firmer employment and easing price pressures.
Attention remains firmly on geopolitics and crude price swings, while focus also turns to Friday’s May nonfarm payrolls report.
STIRS/OPERATIONS
- Fed Pricing: Dec 17.9bps
- EFFR at 3.62% (prev. 3.62%), volumes at USD 109bln (prev. USD 106bln) on May 29th
- SOFR at 3.63% (prev. 3.62%), volumes at USD 3.201tln (prev. USD 3.139tln) on May 29th
- NY Fed RRP op demand at 1.30bln (prev. 11.68bln) across 5 counterparties (prev. 11) on June 1st
CRUDE
WTI (N6) SETTLED USD 4.80 HIGHER AT 92.16/BBL; BRENT (Q6) SETTLED USD 3.86 HIGHER AT 94.98/BBL
The crude complex was notably firmer to start the week, albeit settled off highs amid some more constructive Middle East reporting. The big market mover came just prior to the US cash equity open, whereby Tasnim reported Iran has stopped exchanging messages with the US via mediators, and will “completely” block the Bab al-Mandab Strait and Strait of Hormuz in response to Israeli crimes in Lebanon and Gaza. As such, WTI and Brent saw a kneejerk higher before gradually extending to highs in the US afternoon. Following that, some of the reporting was more risk-positive, which saw benchmarks reside off peaks. Axios reported that a Lebanese official told the US that Hezbollah is ready for a full ceasefire with Israel, and Kann News followed that Israel planned a significant strike in Dahiyeh in Beirut, but it was postponed at the last moment due to American intervention. Continuing to add to this, IRNA said that Pakistani Foreign Ministry announced that Iran has called for Pakistan’s continued mediation to de-escalate the current situation and support the ceasefire, while adding to the downside was a couple of Truth posts from Trump; 1) Said he had a very productive call with Netanyahu; there will be no troops going to Beirut, and Hezbollah agreed that all shooting will stop, and 2) Talks with Iran are continuing at a rapid pace. As such oil pared from the earlier highs, but still settled notably in the green. WTI traded between USD 88.45-94.78/bbl and Brent USD 92.90-97.79/bbl.
Meanwhile, OPEC+ is reportedly likely to raise output quotas for July by 188k per day at the Sunday meeting, Reuters reported citing sources; seven members are likely to agree, whilst the group-wide policy is exp. to remain steady.
EQUITIES
CLOSES: SPX +0.26% at 7,600, NDX +0.60% at 30,514, DJI +0.09% at 51,084, RUT -0.47% at 2,906.
SECTORS: Technology +2.48%, Energy +1.86%, Financials -0.29%, Industrials -0.45%, Materials -0.58%, Health -1.17%, Consumer Staples -1.29%, Communication Services -1.59%, Real Estate -1.73%, Consumer Discretionary -2.62%, Utilities -3.05%
EUROPEAN CLOSES: Euro Stoxx 50 -0.23% at 6,036, DAX -0.44% at 24,994, FTSE 100 -0.68% at 10,339, CAC 40 -0.45% at 8,147, AEX +0.11% at 1,036, IBEX 35 -0.97% at 18,185, FTSE MIB -0.52% at 49,775, SMI -1.75% at 13,305, PSI -1.27% at 8,961.
STOCK SPECIFICS:
- Nvidia (NVDA) and Microsoft (MSFT) unveiled RTX Spark, Windows AI superchip, to bring AI directly to personal computers. As a result, chipmaking competitors QCOM, INTC, and AMD fell, while Cos. who work with NVDA’s computer chip gain DELL, HP, ARM.
- Nutanix (NTNX) announces Nvidia certification of Nutanix Unified Storage solution
- Cadence (CDNS) announces fully autonomous virtual agentic AI design engineer
- Hewlett Packard Enterprises (HPE) introduces CPU server with Nvidia Vera CPU.
- Berkshire Hathaway agreed to buy Taylor Morrison Home (TMHC) for USD 8.5bln & will pay USD 72.50/shr; closed Fri. at 58.50.
- FedEx (FDX) announced the completion of its spin-off of $FDXF, FedEx Freight Holding
- Yum Brands (YUM) is in talks to sell its Pizza Hut brand to LongRange Capital
- Barclays initiated coverage at IBM (IBM) with an ‘Overweight’ rating.
- People Inc preparing to buy MGM Resorts (MGM) in a deal that values it at over USD 18bln.
- Summit Therapeutics (SMMT) phase 2 Chinese trial showed Cos. experimental lung cancer drug reduced the risk of death by 34%.
- McDonald’s (MCD) announces new strategy to boost sales growth, with proposed restaurant layout changes and aims to capture market share in chicken and beverages, according to Bloomberg
- Apple (AAPL) will reportedly introduce a bill-splitting service as part of IOS 27, poised to compete with Splitwise, Tab and Settle Up
- Dropbox (DBX) announces USD 900mln share buyback authorisation.
FX
The Dollar was firmer on Monday amid punchy geopolitical rhetoric, as Tasnim reported Iran has stopped exchanging messages with the US via mediators, and that it is to “completely” block the Bab al-Mandab Strait and Strait of Hormuz. Following this, there was more encouraging US/Iran reporting, such as Trump saying talks with Iran are continuing at a rapid pace and that he had a very productive call with Netanyahu. He said Israel agreed there would be no troops going to Beirut and that Hezbollah agreed that all shooting would stop, implementing a ceasefire between the two. There was no Fed speak on Monday, although Powell spoke overnight, with the tier 1 data release being ISM Mfg. PMI – the headline rose to 54.0 from 52.7, above the expected 53, with prices encouragingly dropping to 82.1 from 84.6, and also beneath the forecasted 85.5. Back to former Fed Chair Powell, he warned that the Fed would lose credibility if any President could dismiss its officials over policy disagreements. Powell, who remains on the Fed’s Board of Governors until January 2028, made his first public remarks since being succeeded by Chair Kevin Warsh, as the Supreme Court deliberates the fate of Fed Governor Lisa Cook, whom President Trump has sought to fire.
G10 FX was predominantly in the red, and weighed on by weakness in the Greenback, with only the Pound managing to eke out marginal gains. For the Pound, earlier strength was attributed to reporting over the weekend, suggesting unofficial UK PM candidate Burnham was eyeing right-leaning Home Secretary Shabana Mahmood as potential Chancellor. Mahmood has previously defended efforts to reduce the amount spent on welfare, and is known for a right-leaning stance on immigration. In terms of European S&P Global Mfg. PMI’s, French, German, EU, and UK Final May prints were better than expected.
Swissy and Kiwi were the laggards, with the latter hit as domestic participants are away on holiday, but also hit again on gains in energy and pressure in the metals space.
JPY saw losses with USD/JPY hitting a peak of 159.77 as participants look at the round 160 as a potential level for Yen intervention.
USA DATA RELEASE/
“Firing On All Cylinders, But…” US Manufacturing Surveys Send Mixed Signals In May
Monday, Jun 01, 2026 – 10:08 AM
With US hard data taking a beating (relative to expectations) last week (red line below), analysts remain hopeful that US Manufacturing will hold up (durable goods orders were solid) with this morning’s Manufacturing PMIs set to signal stability.
- The final May S&P Global US Manufacturing rose to 55.1 (down from the 55.3 flash print) but the strongest since April 2022
- ISM’s Manufacturing PMI survey also signaled improvement, up from 52.7 to 54.0 (better than 53.0 expected).
“At first glance, the manufacturing sector seems to be firing on all cylinders but lift the hood and the picture is not so clear,” says Chris Williamson, Chief Business Economist at S&P Global Market Intelligence.
The headline PMI has hit a four-year high, with strong factory production growth for a second successive month in response to a further marked upturn in order books, but since the outbreak of war in the Middle East we have seen production and demand buoyed by stock building as companies worry over rising prices and supply difficulties.
This stockpiling was again widely evident in May and makes it hard to take an accurate reading on the underlying health of the manufacturing economy, as growth will cool once this stock build has run its course,” Williamson noted.
“The incidence of supply chain delays is the highest since August 2022, with the buying of safety stocks not only adding to the supply squeeze from the closure of the Strait of Hormuz but also pushing prices higher for a wide variety of inputs.
Williamson ends on a more ominous – stagflationary – notes: warning that the resulting steep jump in producer costs sends a worrying signal that broader economy inflation has further to rise in the coming months.
USA ECONOMIC REPORTS
this is what inflation will do to an economy!!
(zerohedge)
Millions Of Americans Are Giving Up On Buying New Cars
Monday, Jun 01, 2026 – 06:55 AM
A growing number of Americans can no longer afford to buy new vehicles. Since 2020, roughly one million potential buyers have exited the market, and industry forecasts suggest they are unlikely to return soon, according to Wall Street Journal.
Although automakers initially expected sales to recover to pre-pandemic levels, persistent economic pressures have kept demand below earlier expectations.
Before COVID-19, U.S. new-vehicle sales typically reached around 17 million units annually. Today, most forecasts place demand closer to 16 million vehicles or less, with little chance of a full recovery in the near future. One major reason is cost: the average new vehicle now sells for nearly $50,000, and many models exceed $55,000. As entry-level options disappear, new cars have become increasingly out of reach for middle-income households.
The WSJ writes that automakers recognize that affordability has become a major obstacle. While some companies have announced plans to introduce less expensive models, substantial price reductions are not expected anytime soon. Rather than competing through discounts, manufacturers have concentrated on producing higher-margin vehicles such as pickups, SUVs, and premium trims.
The industry’s approach changed during the pandemic, when supply shortages limited production but allowed companies to maintain strong profits through higher prices. That experience convinced many automakers that selling fewer vehicles can be more profitable than chasing volume through aggressive incentives. As a result, manufacturers have become more cautious about discounting and more focused on protecting profit margins.
Consumers who are priced out of the new-car market often look to used vehicles instead, but prices there have also risen significantly. Many households have responded by delaying purchases altogether and keeping their current vehicles longer. This trend has pushed the average age of cars and light trucks on U.S. roads to a record level of roughly 13 years.
At the same time, automakers face mounting expenses from tariffs, supply-chain challenges, and large investments in electric vehicle development. These costs further reduce the incentive to prioritize low-priced vehicles. Companies such as GM and Ford continue to emphasize trucks, SUVs, and other profitable models that generate stronger returns than compact economy cars.
Some manufacturers, including Stellantis, have pledged to expand their lineup of lower-cost vehicles in the coming years. Meanwhile, brands such as Toyota, Nissan, and Hyundai still offer some of the market’s more affordable options, although they too have increasingly shifted toward SUVs and larger vehicles.
Industry analysts increasingly believe that annual U.S. vehicle sales may remain below the pre-pandemic norm for years to come. Returning to the 17-million-unit level would likely require a much larger supply of vehicles priced under $40,000. Until that happens, many consumers will continue postponing purchases and extending the life of the vehicles they already own.
VICTOR DAVIS HANSON
KING NEWS
| The King Report May 29, 2026 Issue 7752 | Independent View of the News |
| Iran claims uranium enrichment as ‘red line’ in talks with Trump as US downs drones over Hormuz – Ebrahim Azizi, head of the Iranian parliament’s national security committee, wrote in a post on X that Iran’s red lines include the country’s right to enrich uranium, maintain stockpiles of enriched uranium and control the Strait of Hormuz… https://www.foxnews.com/live-news/iran-war-trump-hormuz-peace-agreement-may-28 Iran’s attempted missile strike on Kuwait a ‘egregious ceasefire violation’: CENTCOM Kuwaiti forces successfully intercepted the ballistic missiles, and U.S. forces intercepted the drones. https://justthenews.com/world/middle-east/irans-attempted-missile-strike-kuwait-egregious-ceasefire-violation-centcom-says Tehran claimed it targeted a US base in Kuwait, as retaliation for the US bombardment of an Iranian drone base near the southern city of Bandar Abbas on Wednesday. April Personal Income 0.0%, 0.4% exp; Personal Spending 0.5% as exp; PCE Price Index 0.4% m/m & 3.8% y/y, 0.5% m/m & 3.8% y/y exp; Core PCE Price Index 0.2% m/m (0.3% exp) & 3.3% y/y as exp Initial Jobless Claims 215k, 211k exp; Continuing claims 1.786m, 1.783m exp April Durable Goods Orders 7.9% m/m, 4% exp; Ex-trans 1.1%, 0.5% exp; Nondefense Ex-air -1.1%, +0.4% expected, Shipments 0.4%, 0.6% expected Q1 GDP 1.6% q/q, 2.0% exp; Personal Consumption 1.4%, 1.6% exp; GDP Price Index 3.5%, 3.6% exp; Core PCE Price Index 4.4%, 4.3% consensus https://www.bea.gov/news/2026/gdp-second-estimate-and-corporate-profits-1st-quarter-2026 Table 1.5.2. Contributions to Percent Change in Real Gross Domestic Product, Expanded Detail Information processing equipment +0.87 (AI stuff); Intellectual property products +0.63 (Fictitious BS, AI-related); Government +0.73 with Federal +0.57 (Q1 GDP growth is mostly AI + Government) https://apps.bea.gov/iTable/?reqid=19&step=2&isuri=1&categories=survey&_gl=1*1pntaab*_ga*MTEzNjY1MDA5NC4xNzc5OTgyMTY1*_ga_J4698JNNFT*czE3Nzk5ODIxNjUkbzEkZzEkdDE3Nzk5ODIyMjIkajMkbDAkaDA.#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDNdLCJkYXRhIjpbWyJjYXRlZ29yaWVzIiwiU3VydmV5Il0sWyJOSVBBX1RhYmxlX0xpc3QiLCIzMiJdXX0= April New Home Sales 622k, 660k exp, Permits 1.423m, 1.442m exp. @trevornoren: Bloomberg: “Inflation-adjusted consumer spending increased just 0.1% last month, while the personal consumption expenditures price index rose 3.8% from a year earlier, the most since 2023… The numbers suggest consumers are facing increasing pressures as uneven hiring trends and the rising cost of living erodes incomes and savings… Personal income, a metric which is not adjusted for inflation, was flat in April, while wages and salaries advanced 0.2%. Inflation-adjusted disposable income fell 0.5%, marking the third straight monthly decline. The saving rate dropped to 2.6%, the lowest since 2022.”… https://x.com/trevornoren/status/2060033186877612359 Despite the negative news on Iran and disappointing US GDP and PCE data, stocks declined only moderately during the first 30 minutes of NYSE trading. Bonds were flat as traders grabbled with the stagflationary economic data. Gasoline and oil were up smartly; precious metals were down moderately. The NY Fang+ Index and the Nas 100 were modestly higher during the first 30 minutes of NYSE trading on the inculcated daily buying of AI-related issues and trading sardines. Near 10:09 ET, ESMs, NQMs, and USMs went vertical on this: US, Iran Reach Deal But Need Trump’s Final Approval – Axios U.S. and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran’s nuclear program, but President Trump has yet to give his final approval… a final agreement that tackles Trump’s nuclear demands would still require further intensive negotiations. The 60-day MOU will state that shipping through the strait of Hormuz will be “unrestricted.” … Iran will have to remove all mines from the strait within 30 days… the first issues to be negotiated during the 60-day window will be how to dispose of Iran’s highly enriched uranium and how to address Iranian enrichment… https://www.axios.com/2026/05/28/iran-peace-deal-trump-approval ESMs hit 7574.00 at 10:13 ET and reversed because all the MOU does is extend the ceasefire. The deadlocked nuke issue is unresolved. Iran’s rope-a-dope strategy continues and is fruitful. The gaslighting on the Iran-US imbroglio has intensified! The MOU reportedly ‘begins negotiations over Iran’s nuclear program.’ What!?!?! This negotiation has been ongoing for YEARS! Furthermore, the MOU in the Axios story is the peace plan that circulated over the Memorial Day Weekend and on Tuesday. The greatly-hyped MOU is essentially a 60-day extension of the ceasefire. @DeItaone: IRAN–U.S. DEAL REPORTEDLY BLOCKED AT TOP LEVELS A source cited by i24NEWS claims that while an agreement was reached between Iranian negotiator Araghchi and the U.S. team led by Witkoff, it has not been approved by Iran’s senior leadership. According to the report, Mojtaba Khamenei did not give approval, which may also be a factor in why President Trump has not given final consent. Reports over the past many weeks have stated that US negotiators Witkoff and Kushner, along with VP Vance, are doves on Iran. Rubio and Hegseth are hawks. And just last week, reports stated that Witkoff was eager to procure a deal ‘at any cost.’ Israel Channel 12 News, citing an Israeli official reported on Saturday that US envoy Steve Witkoff is seeking an agreement “at any cost” and is exerting pressure on Donald Trump not to resume military action. May 23, 2026 https://www.iranintl.com/en/202605231643 Axios’ David Barak has been breaking most of the US-Iran news. Who is leaking to him? ESMs fell to 7551.25 at 10:38 ET. They rebounded and effectively double topped at 7573.25 (11:05 ET). Near the 11:30 ET European close, the NY Fang+ Index was +0.8%; the Nas 100 was + 0.815%. ESMs hit 7576.50 at 11:36 ET. A Noon Balloon took ESMs to 7582.75 at 12:24 ET. After a modest retreat, ESMs traded sideways until the illegal late manipulation pushed them to the daily (7586.50, +46.60) at 15:39 ET. ESMs then eased lower, and were 7580.50 at the NYSE close. Traders, operators, and PMs ignored this because they so busy manipulating stuff higher: @N12News: The Iranian news agency Tasnim quotes a source close to the negotiating team: The document of the possible agreement of understanding has not been finalized – and has not yet been approved. Thursday’s King Report: The usual suspects want to commence May performance gaming. If the news is NOT ugly, there should be a concerted effort to markup stocks and bonds. Headlines and rumors about Iran could impact trading at any instance. @AnthropicAI: We’ve raised $65 billion in Series H funding at a $965 billion post-money valuation, led by @AltimeterCap, Dragoneer, @Greenoaks, and @sequoia. This investment will help us advance our research and expand our capacity to meet growing demand for Claude. The AI Bubble is as obvious as the 2006 Housing Bubble and the Great US Stock Bubble (Internet). Like these other bubbles, the usual suspects, notably the Fed and the Street Establishment, willfully ignore it. Treasury Secretary Scott Bessent @SecScottBessent: The United States Government will not tolerate any effort to impose a tolling system in the Strait of Hormuz. Oman, in particular, should know that the U.S. Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalized. All nations should reject outright any efforts by Iran to disrupt the free flow of commerce. Tehran’s days of terrorizing the region and the world are over. BBG’s @JavierBlas: Judging by the direct warnings/threats by the White House and Treasury, Oman must be seriously thinking about joining forces with Iran for some “toll” or “fee” system in the Strait of Hormuz. That’s the only explanation to 24 hours of attacks from Washington. Positive aspects of previous session Stocks held up well in early NYSE trading. Did someone know about the Axios report? The S&P 500, Nasdaq, the Nas 100, thenNY Fang+ Index, and the Russell 2k hit all-time highs Negative aspects of previous session The DJTA declined 142.05. USMs rallied modestly even with Q1 performance gaming. Oil and gasoline rallied sharply. Ambiguous aspects of previous session Who’s zooming who on the Iran negotiation remarks? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to day traders]: 7516.93 Previous session (S&P 500 Index) High/Low: 7568.72 (15:39 ET); 7508.04 (9:38 ET) Most (Whole Foods) and Least (Costco) Expensive Supermarkets https://www.consumerreports.org/money/prices-price-comparison/most-and-least-expensive-supermarkets-a3157951568/ @CNBC: New York City’s new tax on second homes will more than double property taxes owed by many wealthy luxury apartment owners, according to tax experts. State lawmakers on Wednesday passed the tax on nonprimary residences in order to help close the city’s budget gap. The so-called pied-a-terre tax will be imposed on second homes valued at $1 million or more. It’s expected to raise $500 million in revenue… http://cnb.cx/49vvyaK @ericnuttall: Neil Chapman, SVP of Exxon this morning at the Sanford Bernstein Strategic Decisions Conference perhaps going a little off corporate script: (Inventories will hit “really low levels” in 2 to 3 weeks; prices will then soar; demand (and economy?) will then be destroyed. Running down inventories has kept the stuff from hitting the fan.) https://x.com/ericnuttall/status/2060049094236840291 Minutes after the NYSE close, Iran reportedly fired missiles at targets in the Strait of Hormuz. A reasonable rationale for Trump’s ‘speak loudly but carry a small twig’ negotiations with Iran is that an overthrow of the IRGC regime is germinating. Fed balance sheet: -$9.26B on MBS -$12.875B; Reserves -$63.002B @ACTBrigitte: Trump administration officials are pushing the U.S. Treasury’s Bureau of Engraving and Printing to design a new $250 bill bearing Trump’s portrait… The move would require an act of Congress, as a law dating back to 1866 prohibits living persons from appearing on U.S. currency. Today – Traders are inculcated to play for the Friday Rally and the manipulation to game May performance. The historically over-owned techs should be the favored trading sardines. Last-hour trading could be a contest between the manipulation to game May performance and traders liquidating ahead of a treacherous weekend. In a replay of Wednesday night, Iran’s missile attacked reversed an early Thursday night rally in US equity futures. ESMs went from 7592.50 (+110.75) at 18:05 ET to 7582.00 (-10.50) at 20:06 ET. ESMs are -2.75; NQMs are -48.00; WTI is -$0.81; gasoline is -0.50¢; USMs are +5/32 at 20:35 ET. Expected impact economic data: May Chicago PMI 50.3; April Trade Balance -$87.2B Fed Speakers: Minn Pres Kashkari 2 ET, KC Pres Schmid 6:50 ET, VCEO Bowman 9:10 ET, Phil Pres Paulson on Economic Outlook 9:15 ET, SF Pres Daly 12:40 ET S&P Index 50-day MA: 7039; 100-day MA: 6959; 150-day MA: 6907; 200-day MA: 6825 DJIA 50-day MA: 48,472;100-day MA: 48,704; 150-day MA: 48,328; 200-day MA: 47,705 (Green is positive slope; Red is negative slope) S&P 500 Index (7563.63 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 6035.78 triggers a sell signal Weekly: Trender and MACD are positive – a close below 6745.19 triggers a sell signal Daily: Trender is positive and MACD is negative – a close below 7442.14 triggers a sell signal Hourly: Trender and MACD are positive – a close below 7543.32 triggers a sell signal @Daily_MailUS: A senior CIA official has been arrested after FBI agents raided his home and found more than 300 gold bars worth over $40 million, $2 million in cash and 35 luxury watches – many of them Rolexes. (We’ve been in the ‘looting of the treasury’ phase of the republic for quite a while!) Eleanor Ross Is US Judge Reprimanded for Sex in Chambers – BBG Law Ross, of the Atlanta-based US District Court for the Northern District of Georgia, was nominated by President Barack Obama and confirmed by the Senate in 2014… The affair was with an unnamed police department commander, creating a “conflict-of-interest risk,” the report said… https://news.bloomberglaw.com/us-law-week/eleanor-ross-of-atlanta-is-judge-reprimanded-for-sex-in-chambers-94 @mrddmia: 1. The DoJ must investigate Judge Ross for making materially false statements, under 18 U.S.C. § 1001. 2. The House Judiciary Committee must open an impeachment inquiry. 3. The Senate Judiciary Committee must investigate why the federal judiciary covered up this misconduct. Virginia police respond to ‘swatting’ incident at home of Supreme Court Justice Amy Coney Barrett – Police radio traffic showed law enforcement received a call for a “suspicious noise of gunshots” at Barrett’s suburban home, but the dispatcher warned that it could be fake given that a “high priority resident of the county” lived there. https://justthenews.com/government/courts-law/virginia-police-respond-swatting-incident-home-supreme-court-justice-amy | |
| The King Report June 1, 2026 Issue 7753 | Independent View of the News |
| Trump on Truth Social (Friday): Iran must agree that they will never have a Nuclear Weapon or Bomb. The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic, in both directions. All water mines (bombs), if any, will be terminated (we have removed, through detonation, numerous such mines with our great underwater mine sweepers. Iran will complete the immediate removal and/or detonation of any mines that are left, which will not be many!). Ships caught in the Strait due to our amazing and unprecedented Naval Blockade, which will now be lifted, may start the process of “heading home!” Say HELLO to your wives, husbands, parents, and families from me, your favorite President! The enriched material, sometimes referred to as “Nuclear Dust,” which is buried deep underground with virtually collapsed mountains, caused by our powerful B2 Bomber attack 11 months ago, sitting on top of it, will be unearthed by the United States (which, it is agreed, is the only Country, along with China, with the mechanical capability of doing so!), in close coordination and conjunction with the Islamic Republic of Iran, plus the International Atomic Energy Agency, and DESTROYED. No money will be exchanged, until further notice. Other items, of far less importance, have been agreed to. I will be meeting now, in the Situation Room, to make a final determination… May 29, 2026, 9:51 AM This clause in Trumps post confused many: “Naval Blockade, which will now be lifted”. Some media outlets posted that Trump lifted the US naval blockage on Iran. Others said it was conditional on Iran’s acceptance of the proposed US deal. @Alihashem: A highly informed source tells me that Trump’s post on the “Truth Social” platform regarding lifting the siege was actually the first condition before moving on to the rest of the agreement steps. And according to the source, Tehran insisted on an official and public announcement first. It seems that Trump tried to present the matter as a secondary detail among larger files, while Iran considers it an essential step to build trust before entering the more sensitive files. So far, direct discussions on the nuclear file itself have not been opened. The path is expected to proceed gradually through a memorandum of understanding (MOU), with each step met by a reciprocal step. The source adds that the announcement of a ceasefire between Hezbollah and Israel is within the framework that was agreed upon. @ByronYork: If Trump is saying the US blockade will be immediately lifted, that would be a big, immediate benefit for Iran, wouldn’t it? Trump had said the blockade was costing Iran $500m a day. If Iran gets relief from that, wouldn’t that lessen incentive to reach agreement on nukes? @N12News: Senior Iranian official to Reuters: The memorandum of understanding possible between Tehran and Washington does not include issues related to the nuclear program… (If true, Trump is more desperate for a deal than Iran!) Iran Denies Trump Claims (Iran agrees to open the Strait of Hormuz and cede its nuclear materials) on Nuclear Deal – Fars News Fars News Agency: Informed sources confirm the absence of any clause related to the destruction of Iran’s nuclear materials in the memorandum of understanding. BBG’s @JavierBlas: From what multiple Trump administration accounts are focusing on and re-posting, the White House is going to try to sell the deal on a single point: “Iran must agree that they will never have a nuclear weapon.” (Which was point “iii” of the JCPOA’s Preamble: “… Iran reaffirms that under no circumstances will Iran ever seek, develop or acquire any nuclear weapons…”) Iran ‘promised that it will never have nuclear weapons’ in Obama’ JCPOA. Trump terminated the JCPOA because Iran was enriching uranium to weapons grade. Why should anyone, let alone “The Art of the Deal” master base an agreement on a promise Iran has already broken? Furthermore, what will be the enforcement mechanism to assure Iran does NOT enrich uranium further? Should Trump go wobbly on Iran, our best guess is that Israel will break with DJT on Iran appeasement. @LeeSmithDC: Trump’s JCPOA: POTUS called Obama’s Iran nuclear agreement the worst deal ever — so why does the deal now on his desk look just like Obama’s? Me in @tabletmag https://www.tabletmag.com/sections/news/articles/trump-jcpoa NYT: Perhaps the most surprising, and apparently recent, addition to the agreement is a reference to an investment fund for Iran. The Iranian official and one diplomat put it at $300 billion… Two diplomats briefed on the latest draft called it an international “investment fund,” which the United States would help facilitate in the event of a final deal… an iteration of an earlier idea floated by Mr. Trump’s Middle East envoy, Steve Witkoff, and Jared Kushner, the president’s son-in-law. Both are real estate investors, and some mediators said they had suggested promoting real estate projects in Tehran and an investment fund in the event a deal was reached… Nuclear talks would be deferred… and will include how to dispose of Iran’s stockpile of about 970 pounds of uranium that could be quickly enriched to weapons grade. There’s another ten tons of nuclear material enriched to lower levels that negotiators would have to deal with… Enabling the release of many more billions than Mr. Obama did could expose Mr. Trump to attacks by his opponents and Iran hawks alike… Mr. Trump has attacked Mr. Obama for years over the cash that the United States delivered to Iran to settle a decades-old financial dispute, timed after Mr. Obama’s 2015 nuclear deal… https://www.nytimes.com/2026/05/28/world/middleeast/iran-us-agreement-plan.html @SGhasseminejad: You cannot impose your will on an adversary unless that adversary has been defeated. And it is not enough for you to believe the enemy has been defeated, the enemy must believe it as well. No matter what the administration says, it will not be able to force a favorable deal on the regime because the regime does not believe it was defeated. And the regime does not believe the US has the will and patience to prosecute a war to its end and defeat the regime. At this point, everything else is simply an attempt by the negotiators to sell the president and the MAGA base a narrative they know is false. Most traders ignored Trump’s assertion that he was about to make a final decision on Iran and commenced the upward manipulation of stocks, notably Fangs and AI-related issues to game May performance. The NY Fang+ Index was +2% in early Friday trading. The SOX Index soared early, hitting +2.2% at 9:53 ET; but it quickly sank to -0.007% at 10:45 ET. As noted in Friday’s King Report, ESMs opened moderately higher on Thursday night but quickly sank on news of Iran attacks. ESMs hit a low of 7572.75 (-9.00) at 21:30 ET. They then commenced a persistent rally that took ESMs to 7595 75 at 7:21 ET. The June eMini S&P 500 Futures then traded sideways until they exploded higher on the 9:30 ET NYSE opening. ESMs jumped to a daily high of 7611.50 at 10:00 ET; they then sank to 7577.50 at 10:44 ET on Trump’s post about making a final determination and Iran. ESMs quickly rebounded because the usual suspects wanted to manipulate stuff higher to embellish May performance. ESMs jumped to 7604.75 at 11:12 ET. They then stair stepped higher to 7608.50 at 12:40 ET. Ynet: Iranian Foreign Ministry spokesman Esmail Baghaei said, “we are not negotiating on the details of the nuclear program. The Strait of Hormuz is subject to special uranium measures and is close to hostile warships.” 13:40 ET on Friday. NY Post’s @CaitlinDoornbos: President Trump’s meeting in the situation room over the Iran MOU has come to an end, an administration official tells The Post. Now, we wait. 2:40 PM · May 29, 2026 The NY Times: “Trump’s meeting in the Situation Room lasted about two hours, but the president did not reach a decision on any new deal with Iran, according to a senior administration official…” 14:45 ET After dropping to 7581.75 at 14:00 ET, ESMs jumped higher on the late Friday Rally and the manipulation to game May performance. ESMs hit 7598.25 at 14:34 ET and then fell to 7583.75 at 15:01 ET. The illegal late manipulation, enhanced by May performance gaming and Trump making no decision on Iran, then appeared. ESMs jumped to 7606.00 at 16:42 ET. Alas, too many traders were long and there were NOT enough patsies to absorb the liquidation for the treacherous weekend. So, ESMs sank to 7594.50 at 15:54 ET and then inched up to 7597.00 at 16:00 ET. However, @zerohedge on Friday: peak euphoria: “Today will likely be the largest SPX call volume sessions of all time. Calls have made up 70% of every option traded.” – Goldman Positive aspects of previous session Fangs soared on manipulation to game May performance. Oil and gasoline declined smartly. The S&P 500, Nasdaq, the Nas 100, the NY Fang+ Index, and the Russell 2k hit all-time highs Negative aspects of previous session The S&P peaked at 10:02 ET. The DJTA was soft all session. Gold rallied sharply. USMs could only muster a modest rally despite May performance gaming. Ambiguous aspects of previous session Who’s zooming who on the Iran negotiation remarks? First Hour/Last Hour NYSE Action [S&P 500 Index]: 1st Hour: Up; Last Hour: Up Pivot Point for S&P 500 Index [above/below indicates daily trend to day traders]: 7581.00 Previous session (S&P 500 Index) High/Low: 7599.38 (10:02 ET); 7563.55 (10:44 ET) Best Groups for May: Info tech +15.19% S&P +6.22%, Healthcare +4.56%, Consumer Discret +3.83% Worst Groups for May: Energy -5.32%, Utilities -3.11%, Consumer Staples -1.66% Trump ‘hit the brakes’: Netanyahu’s circle faults US president for failed Iran regime change, looming deal – Israeli Prime Minister Benjamin Netanyahu regards the emerging US-Iran agreement as nothing short of disastrous and blames President Donald Trump for the fiasco… Netanyahu’s inner circle is also blaming Trump for failing to pursue what senior security officials describe as a realistic opportunity to topple the Tehran regime with the assistance of Iran’s Kurdish minority… Trump said he opposed Kurdish fighters joining the conflict after previously expressing support for the idea. “They’re willing to go in, but I’ve told them I don’t want them to go in,” he said… “The Kurds themselves were eager to carry out the operation… But Washington hit the brakes at the last minute.” The source lamented, “We know today with certainty that it was [Turkish President Recep Tayyip] Erdogan who influenced Trump to halt everything…” The same source told Al-Monitor that Trump also blocked other operational initiatives. “Trump has repeatedly put on the brakes, leading to the postponement or cancellation of additional operational plans and major capabilities Israel developed to topple the regime,” he said, warning that “the consequences could be disastrous and long-term.”… https://www.al-monitor.com/originals/2026/05/trump-hit-brakes-netanyahus-circle-faults-us-president-failed-iran-regime-change https://x.com/EYakoby/status/2060440203261591778/photo/1 Trump’s refusal to return to war with Iran will ‘cost him dearly’, Saudi expert claims Saudi Arabia no longer trusts the US to provide protection, Saudi analyst Mubarak al-Ati said in an interview on Russia Today TV earlier this week. “It seems that [US President Donald] Trump refuses to return to war and overthrow the Ayatollah’s regime. This will cost him dearly,” Ati said, while claiming that the US president has shown that he is a paper tiger… (Even with his ubiquitous ‘tough guy’ pics?) https://www.jpost.com/middle-east/article-897727 Iran is signaling it will stick to its original position in nuclear talks, with no major concessions expected, continuing to reject key U.S. demands such as handing over its highly enriched uranium stockpile and altering its core nuclear policy – NYT NYT: Iran’s Hard-Liners Try to Derail Potential Deal with the U.S. A political fight is playing out in Iran, where the small but loud faction of hard-liners has used rallies, state media and private and public statements to try to undermine negotiations… https://www.nytimes.com/2026/05/29/world/middleeast/irans-hard-liners-deal.html BBG’s @JavierBlas: Iran says that the U.S. has not lifted its blockade as of Saturday morning. In a Truth Social post on Friday, President Donald Trump said the US would lift the naval blockade. @ZakenDanny91125: EXCLUSIVE: The U.S. allowed oil and LNG tankers from Qatar to leave Hormuz, after they coordinated (paid) with the Revolutionary Guards. This is contrary to the U.S. policy of allowing ships that pay Iran to break the siege. This fits with our story from last week about the funds that Qatar transferred to Iran and helps the Guards survive the embargo. (Iran sees weakness!) @FoxNews: “We’ve actually left their military alone — people would be surprised to hear that.” President Trump says Iran’s military hasn’t been hit as aggressively because it’s “somewhat moderate” compared to other elements of the regime. He argues that wiping out “everybody” could cause a country to be unable to rebuild for generations. (DJT contradicts his own boasts about destroying Iran’s military) https://x.com/FoxNews/status/2060903307476967498 Axios’ @BarakRavid: President Trump asked for several amendments to the deal his envoys reached with their Iranian counterparts during a Situation Room meeting on Friday, according to a senior U.S. official & second source familiar… Trump wants the deal and expects to finalize it soon but is keen to strengthen several points that are important to him — particularly around Iran’s nuclear material, two U.S. officials said. Trump’s request has launched another round of back-and-forth between the parties that could last several days… https://www.axios.com/2026/05/31/trump-iran-deal-changes-nuclear @JewishWarrior13: A US official to Israel Hayom: President Trump decided to stop the war with Iran, fearing a major loss in the midterm election, because of polls that show that the war is unpopular and rising gas prices. Trump decided to hold off on a deal with Iran and also not restart the war, but he will finish it after the midterms. @FoxNews: Iran’s president has reportedly asked to resign, citing a loss of authority inside the country’s ruling system. According to reports, Masoud Pezeshkian told the Supreme Leader’s office that he and his government have been excluded from major decision-making, leaving him unable to fulfill his responsibilities. The reported resignation comes amid growing signs of internal power struggles within the regime and as the U.S. continues negotiations with Tehran… Iran has reopened most entrances to 18 underground missile sites struck in war Iran has salvaged 50 out of 69 tunnel entrances at 18 underground missile facilities struck by the US and Israel in the recent war, CNN reports, citing satellite images. The regime is “poised to fire far more long-range missiles at Israel and other Middle Eastern nations after rapidly digging out its buried arsenals,” the report says… (Iran is astutely using the ceasefire and its ‘rope-a-dope’ strategy to rearm!) https://www.timesofisrael.com/liveblog_entry/iran-has-dug-up-most-entrances-to-18-underground-missile-sites-struck-in-war-report/ Today – The S&P 500 high on Friday was 7599.38, AND it occurred 32 minutes after the NYSE opening on frantic buying. If the index does NOT move above 7600 with gusto, traders will dump. ESMs went from 7592.50 (+110.75) at 18:05 ET to 7582.00 (-10.50) at 20:06 ET. Traders will play for the Monday Rally and start-of-June buying by institutions near or on the close. Meanwhile, the Trump-Iran soap opera continues without resolution. ESMs are +14.75; NQMs are +117.00; WTI is +$2.17; gasoline is +6.09¢; USMs are -2/32 at 20:10 ET. Expected impact economic data: May S&P Global US Mfg. PMI 55.3; May ISM Mfg. 53.2, Prices Paid 85.0, New Orders 54.5, Employment 48.5; April construction spending 0.1% m/m S&P Index 50-day MA: 7058; 100-day MA: 6966; 150-day MA: 6913; 200-day MA: 6831 DJIA 50-day MA: 48,568;100-day MA: 48,724; 150-day MA: 48,357; 200-day MA: 47,738 (Green is positive slope; Red is negative slope) S&P 500 Index (7563.63 close) – BBG trading model Trender and MACD for key time frames Monthly: Trender and MACD are positive – a close below 6078.33 triggers a sell signal Weekly: Trender and MACD are positive – a close below 6795.95 triggers a sell signal Daily: Trender is positive and MACD is negative – a close below 7469.39 triggers a sell signal Hourly: Trender and MACD are positive – a close below 7562.52 triggers a sell signal Trump on Truth Social, Saturday: I understand Artists are getting “the yips” having to do with their performance on Wednesday, so I am thinking about bringing the Number One Attraction anywhere in the World, the man who gets much larger audiences than Elvis in his prime, and he does so without a guitar, the man who loves our Country more than anyone else, and the man who some say is the Greatest President in History (THE GOAT!), DONALD J. TRUMP, to take the place of these highly paid, Third Rate “Artists,” and give a major speech, rallying the Country forward like I have done ever since being President! Two years ago, the United States was DEAD… I don’t want so-called “Artists” that get paid far too much money, who aren’t happy. I only want to be surrounded by Happy People, Smart People, Successful People, and People that know how to WIN. So, by copy of this TRUTH, I am ordering my Representatives to look at the feasibility of doing an AMERICA IS BACK Rally on Wednesday, Washington, D.C., same time, same location. Only Great Patriots invited — It will be a Wild and Beautiful Celebration of America! https://truthsocial.com/@realDonaldTrump/posts/116664367963376218 | |
SWAMP STORIES FOR YOU TONIGHT
SEATTLE.WA
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Seattle To Declare “State Of Emergency” To Protect Transgender Refugees?
Saturday, May 30, 2026 – 10:45 PM
The ultimate claim to victimhood is the claim that a group of people are “refugees” from mass persecution or “genocide.” The political left covets this victim status more than anything else because, within first world liberal societies, refugees have immediate political capital and access to easy money. Within every leftist narrative there is an agenda for power and a life without adult responsibility.
It is perhaps ironic that thousands of progressive activists and LGBT advocates are leaving red states over imaginary oppression after they spent years attacking conservatives for escaping blue states over very real medical tyranny. At least conservatives never called themselves “refugees.”
Leftists specifically believe their rights are being violated in red states because conservative governments won’t allow them to mutilate their children with hormone therapy and sex change surgeries. This nightmare trend, which is increasingly proven by science to have a detrimental effect on the minds and health of the people who undergo gender therapies, is still heavily protected in leftist havens like Seattle.
For reasonable and sane people still living in the Emerald City, relocation should be a top priority because the golden hordes are making the great northwest their home base. Seattle’s new “democratic socialist” (communist) mayor Katie Wilson is more than happy to oblige the mentally ill mob clamoring for access. The problem is, as the crazies move in, all the businesses are moving out.
This conundrum leaves Wilson’s poorly managed city in a financial bind. New transgender resident are calling themselves “refugees” and demanding access to tax based subsidies in order to survive. One would think they could simply get jobs like everyone else. But, much like third world migrants, everywhere these people go they are always jobless and in dire need of handouts.
The Seattle LGBTQ Commission has requested that Mayor Katie Wilson declare a civil state of emergency due to an influx of transgender and queer individuals relocating from conservative states, which is straining local housing, food, and mental health resources.
National data shows that 84% of transgender and nonbinary people have made major life decisions, such as relocating, since November 2025 due to state policies. This mass influx is means some Seattle support organizations will face a depletion of resources by the end of the summer.
In response, the mayor is launching an interdepartmental team to assess community needs by August. Under Seattle Municipal Code and state law, the mayor can proclaim a civil emergency which grants temporary powers. These include entering contracts and spending without standard bidding, budgeting, or permitting delays. Accessing or reallocating city contingency/emergency funds. And, directing personnel and resources more flexibly.
However, the most likely agenda behind an emergency declaration would be to push for federal funds, which, of course, Seattle will not get.
The city is facing a massive budget shortfall of half a billion dollars for 2026 and 2027, which means numerous programs and employees will have to be cut. Katie Wilson has driven away a number of corporate taxpayers and more are getting ready to leave. This has recently forced the mayor (who initially said good riddance to big business) to change her communist tune and take more diplomatic approach to corporations in the region.
Unfortunately for her, she has made her bed with a gaggle of mentally disturbed fanatics; they want their handouts and they want to destroy major companies paying for those handouts. As this trend continues it is likely that Seattle faces severe economic crisis, or even collapse.
On the bright side, the relocation of hundreds of thousands of trans activists means less problem children for red states. Given that these people seem to cause chaos wherever they go, it’s better that they congregate in a place like Seattle and drive each other insane rather than spread out and plague the daily lives of normal people.
GREG HUNTER…INTERVIEWING ALEX NEWMANN
Epstein at Center of Demonic Deep State – Alex Newman
By Greg Hunter On May 31, 2026 In Market Analysis, Political Analysis8 Comments
By Greg Hunter’s USAWatchdog.com (Saturday Night Post)
Journalist Alex Newman is the author of the longtime popular book “Deep State.” At the beginning of the year, he told us how President Trump’s “Cash Cut-Off Has Globalist Deep State Panicking.” The UN is an arm of the Deep State, and Newman says it “Plans a Tyrannical Future for America.” Three years ago, he told us how the Deep State wants a “Controlled Demolition of America.” Now, Newman is out with a new book called “Deep State 2.0.” Newman thinks evil powers trying to overthrow America have been revealed with the saga of Jeffery Epstein, who was at the center of demonic Deep State operations around the world. Millions of pages have been ordered to be released, but there were massive redactions of perpetrators. Newman says, “This is horrifying, and it is difficult for people to begin to imagine and comprehend. There is so much we don’t know. Even in what they did release, and this is so insulting, they released the names and, in some cases, the nude images of some of the victims. We are talking about underage girls and children, but they redacted and covered up some of the perpetrators and Epstein associates who were working with Epstein on these disgusting crimes. We go into this deeply in the new book (“Deep State 2.0”). This is much more than child sex trafficking. It’s about much more than intelligence operations for various governments. This gets into a realm that sounds like bad science fiction. This is critical to understand if you want to know about the real agenda of the Deep State. They have different names for it such as transhumanism, eugenics and Directed Evolution. One of the key things Epstein was involved in and was trying to do was to figure out how to make new human beings. Epstein was funding and very successfully creating human cloning programs. There were eugenics programs where they were modifying DNA. Epstein was a huge funder of some of cutting-edge research in genetics and DNA at Harvard and Arizona State University. It’s a horror show, and we’ve got the emails that the DOJ released. Human clones they were talking about in the emails. It gets really dark really quickly. I think the DOJ knows this is a bombshell beyond all bombshells. We also know Epstein was connected to the pinnacle of Deep State power. He actually represented himself openly to people like Peter Thiel as an agent from the Rothschilds. The Rothschilds gave him tens of millions of dollars. The Rockefellers groomed him and put him on . . . the Council on Foreign Relations. . .. So, anybody that tells you the Epstein scandal is over is either lying or a fool.”
Newman goes on to say, “The DOJ is still not complying (with the Epstein file release). In a recent hearing, Pam Bondi said oh, we did our best. I say baloney, absolute baloney. I think Todd Blanche (Acting Attorney General) and Pam Bondi (former Attorney General) have serious questions that need to be answered. . .. There is a lot of reasons to see why people in Washington D.C. are panicked about this. If they are not on the list, certainly some of their friends are. There is also talk that if all of this comes out, the government itself might fall. This should be very troubling to anyone who values our country and values our freedom.”
Newman says, “Read your Bible. This is a really good starting point. When you read Psalm 2, and this was written by David 3,000 years ago, he talks about the ‘kings of the Earth, the rulers of the world conspiring together.’ One translation says ‘take council together,’ but it’s all the same thing. The kings and rulers of the world taking council together and conspiring together against God and against his anointed one. So, I guess God is a conspiracy theorist. The good news is Americans are waking up. Who is running this Deep State? I think more and more people are catching on. When I published the first Deep State book in 2020, there was a poll . . . and it showed 75% think there is a Deep State, and I think more people believe that today. . .. Even Democrats recognize we have a nefarious network of individuals, and Epstein is the tip of the iceberg, who are coordinating and working together to undermine our country, undermine our freedom, undermine our prosperity, steal our money and, ultimately, their objective is what they call the New World Order or a one world totalitarian system. To get there, they have to destroy the United States of America first. They have to collapse us economically, politically, spiritually, morally and healthwise. I think that is what we are seeing right now, and the evidence is overwhelming.”
There is much more in the 44-minute interview.
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Join Greg Hunter of USAWatchdog as he goes One-on-One with hard-hitting journalist Alex Newman to talk about the stunning new Deep State revelations found in his new book called “Deep State 2.0” for 5.31.26
After the Interview:https://usawatchdog.com/epstein-at-center-of-demonic-deep-state-alex-newman
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