WS #14189

The dominant US-Iran/Hormuz narrative remains unchanged and escalating, with no counter-signals or de-escalation observed. Other previously noted themes (AI bond yields, Microsoft Maia, Nvidia/SB Energy, Apple chip ban, Ukraine drone attack) show no new data points. The situation is stable relative to the prior cycle. This window carries 5 key development(s), 2 at significance:high: Iran places bounty on US soldiers and claims strategic victory, escalating Hormuz crisis; Goldman Sachs warns of 'earnings bubble' in tech, Microsoft's Maia 300 chip targets NVIDIA. A further 3 development(s) sit below significance:high.