US forces conducted self-defence strikes in southern Iran on Monday; Iran's IRGC says Iran has the right to respond to respond to any US ceasefire breach; Rubio said Iran negotiations will take a few days; Iranian media reports that Iran's blocked resources the last major disagreement between Iran and the United States over starting negotiations; UKMTO said it received a report of an incident 60 nautical miles off Oman’s Muscat; Average US 2yr note auction; US Consumer Confidence drops in May; MU PT raised at UBS.

Hedge funds and mutual funds have continued their recent portfolio rotations away from Software and toward Semis.

Escalation against "command centers"...

"This is all going to be a theft scheme."

About time. 

...the bigger risk may not be "the market down" – but rather the market finally rewarding something else...

All the normal people have gone... Californian Democrats can't, and won't, fix themselves...

Whole Foods remained the most expensive retailer... 

SOX monthly RSI highest since dot-com bubble.

It's almost impossible to believe...

Overall, this was a forgettable auction with mediocre stats and internals.

Yet options positioning needs a reset...

Hoped-for progress in the Strait notwithstanding, geopolitical risk is here to stay and it isn’t necessarily all ‘in the price’...

The World Health Organization’s director-general also said the epidemic "is outpacing us"...

"The bottom line is that the supply shortfall will build in the coming months as temporary buffers are depleted..." 

There seems to be, at first blush, an inconsistency between the “vibe” on jobs and the published data...

“It’s risky - we are seeing bubbles forming in a number of areas, and the AI-led basket clearly has ignored all macro development...”

The company now has tangible progress on multiple nuclear business segments.