Finance

[Flash] Oil Prices Slide as US-Iran Peace Deal Hopes Reduce Supply Risk Premium International oil prices fell sharply on Monday as progress in US-Iran peace negotiations reduced geopolitical risk premiums, BBC and Al Jazeera reported. Markets anticipate that a deal would significantly lower the risk of shipping disruptions in the Strait of Hormuz. For weeks, fears of blocked passage through the strait had kept oil prices elevated. Traders are now repricing that risk. Analysts note that oil could face further downside pressure if the agreement is formally signed. Asian equities rose on the back of lower energy costs. ...

US Treasury market faces significant selling pressure, pushing yields higher and testing Washington’s tolerance for elevated borrowing costs.

Wall Street rallied with the Dow Jones hitting a record high as Middle East peace hopes boosted investor sentiment. S&P 500 on track for longest weekly win streak in months.

Fundstrat’s Tom Lee argues that trillions in upcoming IPO supply from SpaceX, Anthropic, and OpenAI can ultimately be absorbed by the market without crashing the S&P 500. The Dow Jones has surged 300 points to a record high this week.

House Oversight Chairman Comer has launched an investigation into insider trading on prediction market platforms Kalshi and Polymarket, sending letters to both CEOs with a deadline to respond by June. The move follows India’s recent crackdown on Polymarket. Prediction markets, as an emerging financial instrument, operate in a regulatory gray area. The probe will examine whether trades exploiting non-public information have occurred, whether platforms have adequate monitoring mechanisms to detect and prevent insider trading, and whether prediction markets should fall under CFTC oversight. ...

Indian regulators have cracked down on prediction markets, with Polymarket ceasing operations in the country. CoinDesk reports that other platforms like Kalshi could face similar restrictions. The move reflects a tightening regulatory trend for prediction markets globally. Meanwhile, Polymarket is eyeing entry into the Japanese market and has appointed a regional representative.

Samsung Electronics has suspended a planned strike while union members vote on a tentative agreement. The walkout was set to begin Thursday. The core dispute centers on demands for workers to share in profits from Samsung’s booming AI chip business, alongside base pay increases. Samsung is the world’s largest memory chip maker, with AI-related product demand surging over the past year. Union leaders argue that employee compensation has not kept pace with the company’s AI success. If the vote rejects the tentative deal, strikes could resume at any time, potentially disrupting Samsung’s global semiconductor production. ...

SpaceX has formally filed IPO paperwork with the US Securities and Exchange Commission. BBC reports that the listing valuation could make Elon Musk the world’s first trillionaire. As the world’s most valuable private aerospace company, SpaceX’s IPO would be one of the largest tech listings in recent years. The company has raised multiple funding rounds with steadily growing valuations, driven primarily by the Starship program’s progress and Starlink’s commercialization. Sources: BBC, WSJ ...

US 30-Year Treasury Yield Hits Highest Since 2007 Amid Inflation Fears The US 30-year Treasury yield has surpassed 5.19%, reaching its highest level since the 2007 financial crisis, reflecting deep market concerns about the inflation outlook. Key context: Inflation data continues to exceed expectations, pushing back market expectations for Fed rate cuts Bond market selloff intensifies, with long-term rates climbing rapidly Equities are under pressure as investors face the dual challenge of “high rates + high valuations” The 30-year yield breaking above 5% is a significant psychological threshold, suggesting mortgage rates could rise further, putting pressure on the housing market and economic growth. Analysts warn that if inflation remains stubborn, the Fed may be forced to keep rates higher for longer. ...

The son of Spanish fashion brand Mango’s founder has been detained by police in connection with his father’s fatal fall from a cliff. The case has drawn widespread attention.