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Power Vacuum in Tehran After Reported Death of Iran’s Supreme Leader

                                A man holds a portrait of Iran's Supreme Leader Ayatollah Ali Khamenei and the national flag. A senior Israeli official has stated that Iran’s Supreme Leader, Ayatollah Ali Khamenei, was killed in a series of U.S.–Israeli strikes targeting leadership sites in Tehran. Satellite imagery reportedly shows heavy damage and smoke rising from Khamenei’s compound following the attacks.  Multiple outlets, including Reuters and Al Arabiya, report that the strikes were part of a coordinated operation aimed at crippling Iran’s top leadership structure. U.S. President Donald Trump publicly confirmed Khamenei’s death, calling him “one of the most evil people in history” and framing the operation as a step toward ending what he described as a long‑standing security threat.  Iranian state media has since acknowledged Khamenei’s death, announcing a 40‑day mourning p...
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European Stocks Surge and Bond Yields Ease as Markets Scale Back Bets on Rate Cuts

 

European stocks surged to a fresh two-year high, and bond yields eased as markets scaled back ambitious bets at the end of 2023 on rate cuts by the Federal Reserve and other major central banks. The S&P 500 also edged higher, with the index poised to set a new record closing high, at the start of a week packed with big corporate earnings, European inflation data, Federal Reserve and Bank of England meetings and U.S. employment data.

The market is trying to understand the outlook for the U.S. economy as it is unlikely to require the deep interest rate cuts by the Fed it has priced in. Absent geopolitical shocks, the U.S. economy will grow better than expected with just a few areas underperforming.

The surge in European stocks and the easing of bond yields can be attributed to the markets scaling back their bets on rate cuts by the Federal Reserve and other major central banks.



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