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"At a certain point, it'll open itself" - Trump on the Strait of Hormuz

If the objective is eliminating Iran's missile and nuclear capabilities, then it's "mission accomplished". The US and Israel can declare victory and declare a willingness to consider talks. If the objective is wholesale regime change (including eliminating the IRGC), then the war is going to get a lot worse, and Iran will lash out even more violently against the region's energy infrastructure in a desperate attempt to cling to power. A decision on which road the US and Israel choose will probably arrive soon. The former seems more likely than the latter.

The real question is whether Iran ends like Iraq from Bush I (relatively brief conflict that leaves a weakened regime in power but contained) or Iraq from Bush II (regime change followed by a multi-year quagmire that drains blood and treasure).

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Saudi Arabia warns that oil could hit $180 if the war persists into the end of April - WSJ

AI bot traffic will exceed the amount of human traffic that’s online by 2027 - Tech Crunch

Netanyahu's comment about Iran no longer having the capacity to enrich uranium or make missiles is significant as those were the two objectives of the war. But he also said the war would require a ground component of some sort.

Netanyahu said Iran no longer has the capacity to enrich uranium or make ballistic missiles after 20 days of U.S.-Israeli air attacks - Reuters

Trump apparently wants Pirro to continue with the investigation into Powell (according to Bloomberg), but all this means is that: Warsh won’t be confirmed as chair (as Tillis has vowed to block the nomination until the investigation is dropped) and Powell will stay on (Powell will remain chair until Warsh is confirmed, and won’t depart as governor unless the investigation is formally and permanently abandoned).

Denmark was prepared to demolish runways in Greenland (and soldiers were given blood supplies) in the event of a US invasion - FT

If a reporter were to call Trump right now, they'd probably get a "we're nearly done" type of comment as he looks to sooth frayed financial nerves. Wouldn't be shocked to see that type of a headline at some point today.

A group of European nations (UK, France, Germany, Italy, and the Netherlands), along with Japan, published a statement on Thurs in which they committed to taking “appropriate efforts” to reopen Hormuz - Reuters

The IDF attack on the South Pars gas field will likely not be repeated, three Israeli officials said on Thursday according to Reuters.

"It takes money to kill bad guys" was Hegseth's response to a question about the Washington Post's article overnight on the Pentagon requesting a $200B Iran supplemental (he didn't refute the $200B figure).

Economists estimate Americans will pay an extra $740 in gas costs this year, nearly offsetting the highest projected tax refund boost of $748 - Marketwatch

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Trump supported the IDF strike this morning on the Iranian gas field, but doesn't want any more hits on Iranian energy infrastructure - WSJ

Micron bulls are focused on this: "AI hasn’t just increased demand for memory — it has fundamentally recast memory as a defining strategic asset in the AI era" (translation: we're not a commodity company any longer, so stop treating us like one) Micron bears are focused on this: "In calendar 2026, a number of factors, including DRAM and NAND supply constraints, could cause PC and smartphone units to decline in the low-double-digits percentage range...We project our fiscal 2027 capex to step up meaningfully" (translation: demand is being destroyed by high prices and a lot more capacity is set to come online)

$MU Micron's blow-out numbers/guidance reinforce the existing debate about whether memory is a cyclical commodity or morphing into something different vitalknowledge.net/article/2026/0…

Powell says what the whole market is feeling right now: “I don’t want to speculate about what that might mean, because honestly, that would sound like I have some idea of what’s actually going to happen. And I don’t think anybody really does”