Bloomberg — 2026-06-18#

Lead Story#

US President Donald Trump signed an interim peace deal to end the three-month war with Iran, triggering an immediate resumption of shipping traffic through the Strait of Hormuz. The agreement lifts the US naval blockade and initiates a complex 60-day negotiating period over Tehran’s nuclear program, sending global oil prices sharply lower as the market’s biggest supply shock recedes.

Markets & Economics#

• Warsh Rattles Markets With Inflation Vow They Expect Him to Keep (Bloomberg): Federal Reserve Chairman Kevin Warsh used his debut press conference to deliver a resolutely hawkish message on fighting inflation, sparking a massive selloff in short-term Treasuries. Bond futures surged as traders aggressively piled into bets that the central bank could resume interest-rate hikes as soon as next month.
• Bank of England Holds Rates in 7-2 Vote as Oil Outlook Improves (Bloomberg): The BOE maintained its benchmark interest rate at 3.75%, citing an “encouraging” decline in energy prices tied to the Middle East peace deal. However, two policymakers dissented in favor of an immediate quarter-point hike, warning of persistent domestic inflation.
• PBOC’s New Rate Regime to Aid Liquidity and Bonds, Analysts Say (Bloomberg): The People’s Bank of China has refined its monetary policy toolkit, leaning on the bond market to enact broad reductions in borrowing costs. Analysts expect the move to dampen money-market volatility as the country attempts to ease funding stress and shift its economic growth model.
• Switzerland Loses Top Competitiveness Ranking to Singapore (Bloomberg): Switzerland fell to third place globally—yielding the top spot to Singapore—after a persistently strong franc and high US trade tariffs hurt incoming investment flows. In a related move, the Swiss National Bank left borrowing costs at zero but maintained a heightened readiness to intervene in currency markets.

Business & Industries#

• Intel Shares Soar After Trump Says It Struck Apple Chip Deal (Bloomberg): Intel Corp. shares spiked more than 9% in premarket trading after President Trump announced the chipmaker will collaborate with Apple Inc. to design and produce semiconductors domestically.
• BHP Takes $2.3 Billion Potash Charge as Costs Jump Again (Bloomberg): Mining giant BHP Group will take a massive $2.3 billion writedown on its Jansen potash project in Canada. The charge follows a series of significant cost and timeline overruns for the mine’s ongoing expansion.
• Netflix Is Under Contract to Buy LA Studio Lot Seized by Goldman (Bloomberg): Netflix Inc. is under contract to acquire the historic Radford Studio Center in Los Angeles for a fraction of its 2021 valuation . The property was recently repossessed by lenders, including Goldman Sachs Group Inc., following a $1.85 billion sale just three years ago .
• Heart Health Biotech Kardigan Raises $400 Million in Upsized IPO (Bloomberg): Cardiovascular biotechnology firm Kardigan Inc. upsized its US initial public offering, pricing at the top of its marketed range to bring in $400 million. Shares edged up nearly 2% during their trading debut.

Policy & World#

• Supreme Court Backs Right of Some Drug Users to Possess Guns (Bloomberg): The US Supreme Court ruled unanimously that the government cannot categorically bar marijuana users from possessing firearms. The decision represents a major expansion of Second Amendment constitutional protections.
• US Approves Fast-Tracking Grid Connections for Data Centers (Bloomberg): The Federal Energy Regulatory Commission approved critical guidance to expedite electrical grid hookups for AI data centers. FERC Chair Laura Swett described the pivot as a necessary intervention to support power-hungry infrastructure and prevent systemic grid failures.
• Europe Tries to Take On China Without Launching a New Trade War (Bloomberg): European Union leaders and G7 nations pledged an ambitious target to diversify their supply chains away from China. The bloc is attempting a delicate balancing act to counter Beijing’s growing export imbalances without provoking retaliatory conflicts.

Opinion & Analysis#

• Warsh Just Passed His First Independence Test at the Fed (Bloomberg Opinion): The Editorial Board argues that rookie Fed Chair Kevin Warsh proved his credibility by firmly committing to a 2% inflation target, rebuffing expectations that he would kowtow to political pressure for easier monetary policy .
• Are We All Active Investors Now? (Bloomberg Opinion): An op-ed explores how SpaceX’s mammoth IPO and unconventional valuation are fracturing the logic of passive indexing, forcing everyday fund holders to grapple with the risks of active investing .
• Data Centers Are Stewing in Their Own Pollution (Bloomberg Opinion): A columnist highlights a dangerous climate feedback loop, warning that the massive energy footprint required by data centers is accelerating extreme weather events that threaten the facilities themselves .