2026-06-29
US and Iran pause strikes. Oil rises. Court backs TPS termination.
Good morning. A day defined by two things: a Middle East truce that might hold, and a Supreme Court decision on asylum policy that will not. Markets and newsrooms are both moving.
Morning Reality Check
Both sides have paused attacks and agreed to reopen the Strait of Hormuz to shipping. Technical talks resume Tuesday. Neither side has declared the other side a liar yet.
Brent crude edges up. Tit-for-tat strikes and a reopening that might not hold have merchants nervous. When the Strait shudders, energy markets don't sleep.
Four days after back-to-back earthquakes, aid is moving in. Confirmed dead: 1,400. Unaccounted for: tens of thousands. The missing are the problem now.
The Supreme Court authorized the Trump administration to end Temporary Protected Status for roughly 1.3 million immigrants. Those whose countries of origin are deemed unsafe now have Congress as their last option. Congress moves slowly.
Overnight strikes by Pakistani forces killed at least 36 and wounded more than 160, Afghan officials said. Cross-border operations and casualty counts. The border still doesn't know what it is.
Trilateral agreement with the US designed to sketch a path toward ending the Israel-Lebanon conflict. Framework deals are where the easy part ends.
50-50 split of their international operations ends an 18-month search for a buyer. Two legacy telecoms decide to stop looking and just merge the pieces themselves.
High concentration in stocks and national security concerns are pushing SWFs into private credit and infrastructure. The margin between public and private is widening.
"Standard noise. Calibrate accordingly."
"Worth paying attention to. Don't doomscroll."
Truce in the Middle East, court ruling at home, and Asia racing on chips.
Back at 12:00 PM ET with the lunch reset brief.