Thursday's News Links

[CNBC] S&P 500 flat after index posts another record; traders eye developments in Iran: Live updates

[CNBC] Oil prices fall below $100 as U.S.-Iran tensions keep traders focused on Strait of Hormuz risks

[Yahoo/Bloomberg] Gold Extends Hefty Gain as US-Iran Hopes Ease Inflation Fears

[Yahoo/Bloomberg] US Yields at 5% Tug Traders Between Dip-Buying Greed and Fear

[Yahoo/Bloomberg] Japan Likely Used $30 Billion in Follow-Up Yen Intervention

[Yahoo/Bloomberg] Quant Model Shows Rally in Stocks Is Approaching ‘Manic’ Level

[The Hill] Iranian official calls reported peace proposal ‘Americans’ wish list’

[Reuters] Explainer: What's included in talks to end the Iran war and reopen Hormuz?

[AP] US jobless claim applications rise to 200,000 but remain historically low despite economic headwinds

[Yahoo/Reuters] Chinese exporters 'numb' to U.S. threats as Trump set to visit

[AP] China signals again that Taiwan is a priority ahead of Trump-Xi meeting

[Reuters] Japan keeps US close as it signals unlimited yen defence

[Yahoo/Bloomberg] Norway Hikes for First Time Since 2023, Taking Lead in Europe

[Yahoo/Bloomberg] Hybrid Bond Sales Reach Record as Companies Pounce on Low Costs

[Bloomberg] US Waits on Iran’s Peace Deal Response as Israel Strikes Lebanon

[Bloomberg] Stavridis: Gulf Tankers Will Need Protection, Peace Deal or Not

[Bloomberg] Oil Loading Logjam at Crucial Oman Port Puts Flows Under Strain

[Bloomberg] BlackRock Private Debt Fund Cuts Asset Value on Loan Markdowns

[Bloomberg] Private Credit’s Problem Isn’t the Media

[Bloomberg] US Productivity Growth Cools on Rebound in Hours Worked

[Bloomberg] Japan Has All Fronts in Sight in Response to Yen Speculation

[Bloomberg] Junk-Bond Craze in Emerging Markets Is Strongest in Eight Years

[Bloomberg] Baltic States Warn of Unfunded Debt for Europe’s Defense Splurge

[Bloomberg] How to Unwind Viktor Orbán’s Web of Corruption: Start With the Zebras

[Bloomberg] Bradesco Credit Costs Surge on Brazil Corporate Delinquencies

[NYT] World in Waiting Game Over Iran’s Response to U.S. Peace Proposal

[NYT] Fast-Food Sales Rise Despite Higher Gas Prices

[NYT] The ‘Perfect Storm’ Hanging Over Britain’s Public Debt

[WSJ] Jet-Fuel Prices Are Spiking and Trump’s Advisers Are Worried

[WSJ] Corporate Layoffs Are Down 10% This Year, but the AI Reckoning Has Come For Tech

[WSJ] Frackers Are Finally Ready to Drill. Trump Won’t See a Return of the Go-Go Days.

[WSJ] U.S. and China Pursue Guardrails to Stop AI Rivalry From Spiraling Into Crisis

[WSJ] Carlyle Group Swings to Loss, Posts Revenue Decline

[WSJ] Putin’s Strongman Image Is Fading as Ukraine Brings War Home to Russia

[FT] Warsh would be wise to listen to Fed dissenters

[FT] Maersk warns economic impact of Iran conflict will ripple for months

[FT] Tech rally hands hedge funds biggest gains since 2020

[FT] The mysterious $53bn ‘other income’ boost to AI hyperscaler earnings

[FT] Jet fuel crisis worse than Covid for airlines, says AirAsia chief

[FT] ‘Plastic shock’ hits Asia as Iran oil crisis strangles supplies

Wednesday Evening Links

[CNBC] Stock futures are flat after the S&P 500 posts another record; traders eye developments in Iran: Live updates

[Reuters] Iran reviewing US proposal to end war, though key demands remain unaddressed

[Axios] Trump optimistic as U.S. awaits Iran's response to peace framework

[Reuters] Global debt hits record of near $353 trillion, with signs of move away from US

[Axios] AI creates a mess for private equity

[Yahoo/Bloomberg] Trump Tariff Refunds Start Hitting Importers’ Bank Accounts

[Bloomberg] Blue Owl BDCs Buy Back $85 Million of Shares as Loan Values Sink

[Bloomberg] Apollo Private Credit Fund Reports Loss on Portfolio Weakness

[Bloomberg] Pentagon’s Botched Blacklist Highlights Frail Trump-Xi Truce

[NYT] Attack on French Cargo Ship Highlights Continued Risks in Strait of Hormuz

[WSJ] America’s Army of Supercommuters Is Reeling Over High Gas Prices

[WSJ] The Iran War Is Crushing Whirlpool’s Profit—and Higher Prices Are Coming

[FT] The leverage layer cake behind HSBC’s private credit losses

[FT] US fuel exports hit record in boon for oil companies and threat to Trump

Wednesday Afternoon Links

[CNBC] Dow surges 600 points, S&P 500 posts first close above 7,300 as traders hope for Iran deal: Live updates

[AP] Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz

[AP] US fires on Iranian oil tanker as Trump pressures Tehran for deal to end war

[AP] Trump administration sows confusion as it tries to reopen Strait of Hormuz

[CNBC] Iran war threatens jet fuel shortage that could disrupt summer travel in Asia and Europe

[CNBC] Apollo CEO Rowan warns of market correction, slams ‘egregious’ practices at rival insurers

[Bloomberg] Fed’s Goolsbee Sounds Warning on Inflation, Consumer Behavior

[Bloomberg] Gundlach Warns Investors Will Lose Money on Private Credit

[Bloomberg] Foreign Demand for Treasury Debt Is Stalling, Trade Group Says

[Bloomberg] Tariff Refunds Have Started Being Paid by Trump Administration

[Bloomberg] Biggest US Grid Needs Redesign to Cope With AI Boom, CEO Says

[NYT] Higher Gas Prices Are Hitting Lower-Income Americans the Hardest

[WSJ] Blinder: A Tricky Handoff at the Federal Reserve