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U.S. Officials Say Iran’s New Supreme Leader Gravely Wounded Amid Escalating Conflict

Protesters hold posters of Iran's late Supreme Leader Ayatollah Ali Khamenei and his son, Iran's new Supreme Leader Mojtaba Khamenei, during a protest marking al-Quds Day (Jerusalem Day), after Friday prayers at Fatih Mosque in Istanbul. U.S. Defense Secretary Pete Hegseth has confirmed that Iran’s newly appointed Supreme Leader, Mojtaba Khamenei , was seriously wounded and likely disfigured during the opening phase of U.S. and Israeli military strikes. Speaking at a Pentagon briefing, Hegseth described Iran’s leadership as “desperate and hiding,” asserting that Khamenei has gone underground following injuries sustained in the attacks.  Reports from multiple outlets indicate that Khamenei has not appeared publicly since the conflict began, fueling speculation about the severity of his condition. Some accounts suggest he may have suffered catastrophic injuries, including the loss of a limb and a possible coma, after an airstrike that also killed members of his family.  U.S....
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Reassessment of BoC Rate Cut Expectations After Robust Canadian Jobs Report

The latest Canadian jobs data has led to a significant shift in market expectations regarding the Bank of Canada’s (BoC) interest rate decisions. Here’s a concise overview:

  • Unexpected Job Surge: April saw the addition of 90,400 jobs, far surpassing the anticipated 20,000. This robust employment growth has caused money markets to reassess the likelihood of an imminent rate cut by the BoC.
  • Rate Cut Probabilities Altered: Prior to the jobs report, the probability of a rate cut in June was 58%, which has now decreased to below 50%. Markets are now leaning towards a cut in July, with a 70% chance.
  • Economic Indicators: Despite the job increase, wage growth has decelerated to 4.8% annually, the slowest in ten months, hinting at potential slack in the labor market.
  • Market Movements: The Canadian dollar and government bond yields reacted sharply to the news, with the dollar appreciating and the 2-year bond yield rising by 10 basis points.

This data has not only influenced market predictions but will also play a crucial role in the BoC’s upcoming policy decisions. The central bank’s next moves are now being watched closely as analysts debate the timing and necessity of rate adjustments.

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