Gulf stock markets lost an estimated $24 billion in market value during May, reducing the combined capitalization of regional exchanges to approximately $4.08 trillion, according to a CNBC Arabia survey. While the decline represents only about 0.6% of total Gulf market capitalization, it reflects persistent investor caution amid regional geopolitical tensions, uncertainty surrounding the Strait…

Bitcoin fell to its lowest level since early May as the Iran war triggered a sharp repricing of risk across global markets, hitting cryptocurrencies alongside equities and other speculative assets. The world’s largest cryptocurrency dropped to around $76,500 during Asian trading, its weakest level since May 1, before recovering modestly toward the $77,000 range. Ether, […]

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JPMorgan Chase has warned that the traditional investment strategy built around equities and bonds is becoming increasingly insufficient for protecting wealth amid rising geopolitical tensions in the Middle East and growing inflationary pressures linked to disruptions in global energy markets. In a recent investment outlook, the bank argued that the long-established “60/40” portfolio model —…

“The Senate may have confirmed Kevin Warsh as the next Federal Reserve chair, but that doesn’t mean he’s in the door,” Semafor reports. “Before Warsh can be sworn in, the president — who left for China before lawmakers took their last vote — must sign paperwork installing Warsh in the role. Warsh has also agreed […]

“The Senate narrowly confirmed Kevin Warsh chair of the Federal Reserve, setting up the most controversial leadership transition at the U.S. central bank in decades and a test of its political independence,” Bloomberg reports. “The 54-45 vote Wednesday was the slimmest confirmation margin ever for a head of the central bank, reflecting polarized politics in […]

Bloomberg: “Treasury Secretary Scott Bessent criticized Jerome Powell for his decision to stay on the Federal Reserve Board after he steps down as the US central bank’s chair, saying it amounts to a break with Fed tradition.” Said Bessent: “It’s highly unusual for someone who says he’s an institutionalist and cares about norms at the […]

Wall Street Journal: “The Federal Reserve succession drama now comes down to a decision only Jerome Powell can make.” “What’s left unresolved is whether Powell will give up his seat on the Fed’s board when his chairmanship ends or stay on as a governor, a position he can hold until January 2028. Fed chairs have […]

Sen. Thom Tillis (R-N.C.) said he would drop his blockade of Federal Reserve nominees through the Senate Banking Committee, the Washington Post reports. The move clears the way for Federal chair nominee Kevin Warsh to advance. Said Tillis: “I take the Department of Justice at its word: the investigation is closed.”

“Federal prosecutors are ending their criminal investigation into Federal Reserve Chairman Jerome Powell, U.S. Attorney Jeanine Pirro announced, clearing a key obstacle for the confirmation of Kevin Warsh, President Trump’s pick to take over as head of the central bank’s Board of Governors,” CBS News reports.

CNBC: “Federal Reserve chair nominee Kevin Warsh has submitted required paperwork to the Senate.”

“Rep. Ritchie Torres (D-NY) on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump’s announcement of a five-day delay in attacks on Iran’s energy infrastructure in March,” CNBC reports.

Wall Street Journal: “A federal judge denied the Justice Department’s request to reconsider his decision to quash a pair of subpoenas issued to the Federal Reserve, rejecting the government’s arguments in a sharply worded six-page opinion.”

A broker for Defense Secretary Pete Hegseth sought to make a large investment in major defense companies in the lead up to the Iran war, the Financial Times reports.

Financial Times: “Jay Powell says that ‘independence and integrity are inseparable’ in the wake of another attack from Donald Trump on the Federal Reserve chair. ”

“By doubling down on the investigation into Jerome Powell, President Donald Trump is ensuring that the Federal Reserve chair won’t go anywhere soon,” Semafor reports. “After Powell said he would remain at the central bank until the Justice Department drops its investigation into Fed renovations, Trump on Thursday put his weight behind the probe, telling […]

“The Federal Reserve held interest rates steady Wednesday and preserved a path to cutting rates this year as higher energy prices from the Iran war threaten to prolong their yearslong inflation fight,” the Wall Street Journal reports. “Officials voted 11-1 to hold the benchmark federal-funds rate in a range between 3.5% and 3.75%, the second […]

Politico: “Trump is demanding that the Federal Reserve immediately lower borrowing costs. But the war in the Middle East has now made any interest rate cuts much less likely in 2026 — not just in the U.S. but around the world. With oil prices surging past $100 a barrel and Gulf shipping routes disrupted by […]

“A federal judge threw out a pair of subpoenas the Justice Department issued to the Federal Reserve, handing a victory to the Fed and dealing a heavy blow to U.S. Attorney Jeanine Pirro’s criminal investigation into Chair Jerome Powell,” the Wall Street Journal reports.

Wall Street Journal: “This U.S.-centric idea ran counter to the market realities… Maritime war risks policies are sold mostly out of Lloyd’s of London, with foreign insurers covering foreign ships and cargo.” “U.S. officials called London insurers and brokers, trying to figure out how the market operates, industry insiders said. Some have received calls asking for […]

Escalating tensions between the United States, Israel and Iran sent oil surging and investors into safe havens, signalling fears of supply disruption and slower growth, but not yet a full-blown global crisis.

“Mortgage rates fell below 6% this week for the first time in more than three years, welcome news for waves of house hunters heading into the busy spring home-buying season,” the Wall Street Journal reports.

Punchbowl News: “Wall Street is reacting to Trump’s latest tariff moves following last week’s blockbuster Supreme Court decision…” “But markets are also reacting to a vaster set of economic and policy questions. How long will it take for the totality of the new Trump tariff regime to take shape, if ever? What happens to the […]

“Far from being a source of relief, the Supreme Court’s takedown of President Donald Trump’s tariffs has infused new risks and uncertainties into trade policy, U.S. debt and the dollar,” Reuters reports.

“Roundhill Investments has asked the Securities and Exchange Commission for permission to launch six ETFs that would let investors wager on U.S. election outcomes through standard brokerage accounts — the most ambitious attempt yet to bring prediction markets into mainstream finance,” Bloomberg reports. “The proposed exchange-traded funds, disclosed in a filing on Feb. 13, cover […]

“Trillions of dollars in value have been vaporized from global crypto markets since October, plunging an ascendant industry championed by President Trump into a new bout of turmoil,” Axios reports. “Crypto joins a growing list of MAGA coalition partners — from Epstein-focused populists to farmers to Latino men — now questioning whether Trump’s return to […]

Paul Krugman: “This crash may have political consequences. At least some young men supported Trump because they believed that he would enhance their crypto investments, and have remained favorable because he seemed to be delivering. I don’t know how many bitterly disillusioned bros there will be now, but there will be some.” “And in general […]

New York Times: “The price of Bitcoin is lower than it was the day before President Trump’s election. A leading cryptocurrency exchange is laying off a large chunk of its work force. And a push for industry-friendly legislation has stalled in Congress.” “After months of declining prices and dispiriting setbacks, the crypto industry has found […]