Iran Poised To Finalize Hormuz Strait Management Plan, Brushing Aside Trump's Threats

Futures Tumble As Reality Returns And Yields, Oil And Dollar Soar Bond yields, oil and the dollar are surging this morning as US futures tumble from all-time highs, with Tech underperforming driven by a series of factors including i) surging energy prices on lack of Iran war progress, ii) elevated positioning into options expiry; iii) Central bank repricing, iv) Tech sell-off driven by higher yields, and v) strikes at Samsung Electronics. The combination of stronger consumption and higher inflation is also a factor today. As of 8:00am ET, S&P futures are down...

Supreme Court Temporarily Restores Nationwide Access To Abortion Pill Update (05/04/2026): The U.S. Supreme Court on Monday issued a temporary order that restores full nationwide access to the abortion medication mifepristone, including through mail-order, telehealth prescriptions, and certified pharmacies, until at least May 11. The emergency ruling pauses a May 1 decision by the conservative 5th U.S. Circuit Court of Appeals that had reinstated a nationwide requirement for in-person dispensing only. That lower-court order had threatened to sharply restrict medication abortion access across the country, even in states where abortion remains...

Iran Strikes Covert Missile Deal With Moscow In Backchannel Rearmament Iran is squarely in the Trump administration's crosshairs, and both Russia and China are to some degree coming to Tehran's aid with some significant arms deals meant to potentially stave off future attack. Most significantly, the Financial Times is reporting that Russia will supply the Iranians with thousands of advanced shoulder-fired missiles in a deal worth 500 million Euros. via ReutersIt's said to be part of a broader effort to rebuild Iran's air defenses, which were heavily destroyed and retarded by Israeli-US airstrikes in the last...