2026-05-29
Rocket explodes. Markets repricing rates. Iran talks stall.
Good morning. Blue Origin's New Glenn detonated on the pad in Florida. Rates are rising everywhere. And the U.S.-Iran negotiation is still weeks away from agreement, according to JD Vance.
Morning Reality Check
Seema Shah, Chief Global Strategist at Principal Asset Management, said bond yields are the thing to watch. From Principal's vantage: the market hasn't yet adjusted for the reality of rate cuts that keep getting delayed.
President Bernardo Arévalo said no agreement exists with Washington on joint operations. The denial arrived within hours of the report. One side says it happened. One side says no.
Test on a Florida launchpad went wrong Thursday evening. Another problem for Blue Origin's claim it's a reliable alternative to SpaceX's Falcon 9. The company has now had two major setbacks in eighteen months.
Two injured in Galaţi. NATO and Bucharest called it reckless escalation. The Strait of Hormuz moment nobody expected—or maybe expected too much.
Two years of US and Israeli strikes on Iran's nuclear sites, missiles, air defenses, and proxies have left Tehran weaker than at any point since 1979. A deal is geometrically easier to strike when one side has just absorbed two years of damage.
Elon Musk's rocket company is nearing its public debut. The valuation is what insiders are reporting. The IPO timeline remains unclear.
The Strait of Hormuz remains gridlocked. War rages in Lebanon. Both sides say no agreement yet. "Not there yet, but very close," which is what both sides always say when they're nowhere close.
The country singer withdrew Thursday, citing misleading information about the National Mall event scheduled for next month. She was presented with one opportunity and got a different one.
- Americans’ savings rate falls to lowest level since 2022
- Pam Bondi to face closed-door questioning from House lawmakers over Epstein files
- Man arrested for threats at TPUSA event
- Gita Gopinath on Why Interest Rates Have Surged All Around the World | Odd Lots
- India cuts monsoon forecast to 90% normal
- California teen wins National Spelling Bee
- HSG leading bid for Leica stake
- Norway's $2.3T fund backs Palantir human rights review
- AI speech pivots from generative to agents
- Fox News quiz: Biden health and Crowe in Paris
"Standard noise. Calibrate accordingly."
"Worth paying attention to. Don't doomscroll."
Rockets fail, rates rise, negotiations stall—nobody's getting what they promised.
Back at 12:00 PM ET with the lunch reset brief.