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Fri, 19 Jun 2026 16:35:00 +0000 US Probes Whether ASML's Advanced Chip Machine Ended Up In China
US Probes Whether ASML's Advanced Chip Machine Ended Up In China
Not long after Shenzhen-based Huawei unveiled what it described as a Read more.....
US Probes Whether ASML's Advanced Chip Machine Ended Up In China
Not long after Shenzhen-based Huawei unveiled what it described as a breakthrough pathway for advanced semiconductor production at the recent IEEE ISCAS conference, the Trump administration raised concerns that one of Dutch chip-equipment giant ASML's extreme ultraviolet lithography, or EUV, machines may have fallen into Chinese hands.
Bloomberg reports that Commerce Secretary Howard Lutnick has raised concerns that one of ASML's EUV machines may have reached China despite US-led export controls.
ASML has pushed back on Lutnick's suggestion, explaining that none of its EUV machines, used to print the tiniest circuit patterns onto advanced computer chips, have ended up in the hands of the Chinese. This report is based on sources from the outlet who spoke on condition of anonymity to describe private conversations.
ASML says all 314 of its operating EUV machines are accounted for globally.
More color from the outlet:
Multiple senior administration officials, speaking on condition of anonymity to describe a sensitive matter, said they have evidence indicating ASML is not acting in good faith — such as exports to China of gear specifically related to EUV tools, which ASML denied to Bloomberg. These US officials, who didn't comment on Lutnick's meetings with ASML, declined multiple requests from Bloomberg for proof of the shipments, citing the sensitivity of the information and sources. They also declined to say whether they have seen evidence of an actual EUV system in the Asian country.
The dispute adds pressure on ASML, with shares in Amsterdam trading down as much as 2% on Friday. Shares have advanced as much as 81% this year due to the AI and data center buildout narrative .
Here is Citi analyst Andrew Gardiner's first take on the US Government-ASML dispute:
According to Bloomberg (6/19), US Commerce Secretary Howard Lutnick has told ASML of concerns that an EUV machine is in China, in contravention of regulations that prevent ASML from shipping EUV to China. No evidence for the claims was provided to journalists. ASML have reiterated publicly they have never shipped a machine or EUV parts to China. ASML can "see" each of the EUV tools running at customer fabs, as the machines send back data to ASML on their operations. ASML are now in the difficult position of trying to prove a negative, when no evidence is being furnished against their position. Given our time spent with ASML over the last two decades, including with current management in recent years, we find it very hard to believe that they would jeopardise their position in the industry, their reputation, or their technological leadership just to deliver an EUV tool to China.
Bloomberg Intelligence analyst Masahiro Wakasugi comments:
US concerns about Chinese chipmakers using advanced tools made by ASML might have little impact on its sales. Bloomberg News reports that in recent meetings, Commerce Secretary Howard Lutnick expressed the concerns to ASML's leaders, saying one of its top machines might have made its way into China, violating US-led restrictions. But ASML says it has never shipped extreme ultraviolet lithography systems to China and has complied with tightening restrictions on deep ultraviolet tools. Also, using ASML machines to make advanced chips would probably require sophisticated tools from other foreign firms that also face restrictions. China is increasingly able to make more-advanced chips with legacy tools, so the US concerns may reflect Chinese engineering progress rather than any lapse in ASML's compliance with export controls.
Related:
US concerns may reflect China's progress in developing advanced chips, especially after Huawei's announcement last month of a potential breakthrough in semiconductor production.
Tyler Durden
Fri, 06/19/2026 - 12:35 Close
Fri, 19 Jun 2026 16:00:00 +0000 Federal Court Allows National Park Service To Replace Slavery Exhibit In Philadelphia
Federal Court Allows National Park Service To Replace Slavery Exhibit In Philadelphia
Federal Court Allows National Park Service To Replace Slavery Exhibit In Philadelphia
Authored by Jackson Richman via The Epoch Times (emphasis ours),
A federal appeals court ruled on June 18 that the Trump administration can move forward with replacing a slavery-related exhibit at Independence National Historical Park in Philadelphia.
FILE - A person views posted signs on the locations of the now removed explanatory panels that were part of an exhibit on slavery at President's House Site in Philadelphia, Jan. 23, 2026. AP Photo/Matt Rourke, File
The decision from the Philadelphia-based Third U.S. Circuit Court of Appeals reversed a lower court ruling that had blocked the National Park Service from removing the exhibit. The city of Philadelphia had won that earlier ruling after an exhibit describing George Washington’s ownership of enslaved people was taken down.
The exhibit, located at the President’s House historic site, was removed following an executive order signed by President Donald Trump aimed at eliminating what he described as efforts to portray the United States as fundamentally racist or oppressive. The order directed the Interior Department to review and revise historical displays in national parks across the country.
As part of that effort, the National Park Service removed an exhibit in January that focused on nine enslaved individuals who lived and worked at Washington’s Philadelphia residence.
Philadelphia sued, arguing that agreements with the federal government required the city to be consulted before significant changes were made to the site. U.S. District Judge Cynthia Rufe agreed and issued an injunction requiring the exhibit to remain.
However, the appeals court found that removing the exhibit was not an official agency action that could be challenged under the Administrative Procedure Act. Writing for the three-judge panel, Judge Thomas Hardiman said the Park Service’s planned replacement displays still address the history of the nine enslaved people while also noting Washington’s stated opposition to slavery later in life.
According to Hardiman, the new exhibits recognize the injustices of slavery and preserve the stories and humanity of the enslaved individuals who lived at the President’s House.
The Epoch Times reached out to the Interior Department for comment on the decision but did not receive a response by publication time.
Philadelphia Mayor Cherelle Parker criticized the ruling and pledged to continue fighting it in court.
“I will pursue every legal action possible to reverse this decision . We cannot and WILL not rest until the full story of American history – including the existence of Slavery at the President’s House here in Philadelphia – is told, for our Nation and the World to see,” she posted on X on Thursday.
Despite the appeals court decision, the original exhibit may still be restored. In a separate case, U.S. District Judge Angel Kelley in Boston recently ordered the reinstatement of all national park exhibits that had been removed under Trump’s directive. Shortly after the appeals court ruling, Kelley declined to suspend her order while the administration appeals.
Reuters contributed to this report.
Tyler Durden
Fri, 06/19/2026 - 12:00 Close
Fri, 19 Jun 2026 15:10:00 +0000 Appeals Court Allows Ohio To Restrict Children's Use Of Social Media
Appeals Court Allows Ohio To Restrict Children's Use Of Social Media
Appeals Court Allows Ohio To Restrict Children's Use Of Social Media
Authored by Aldgra Fredly via The Epoch Times ,
A federal appeals court on Thursday allowed Ohio to enforce a law requiring social media companies to obtain parental consent before permitting children under 16 to access their platforms.
Instagram, TikTok, Snapchat, YouTube, Facebook, Twitch, and Reddit applications are displayed on a mobile phone on Dec. 9, 2025. Hollie Adams/Reuters
The law, known as the Social Media Parental Notification Act, was passed by the state's legislature in 2023 and took effect in January 2024. NetChoice - a trade group representing TikTok, Meta, and other major tech companies - later filed a lawsuit, alleging that the law was unconstitutional.
In April, U.S. District Judge Algenon Marbley ruled in NetChoice's favor and permanently blocked Ohio from enforcing the law. The state subsequently appealed the ruling.
In a 2-1 decision on June 18, a panel of the Sixth U.S. Circuit Court of Appeals reversed the lower court ruling, finding that Ohio's law does not violate the First Amendment of the U.S. Constitution.
Writing for the majority, Circuit Judge Eric Clay said the state law imposes only "a marginal burden" by requiring parental consent for children to use social media platforms.
"That requirement constitutes a marginal burden that precisely targets the multi-faceted problem that Ohio has identified: Children's unsupervised assent to terms and conditions for use of platforms that take advantage of and harm them ," Clay said.
"Parental consent will not always be narrowly tailored to the compelling interest in protecting minors' well-being. It works here because the nature of the harm itself is that children's unsupervised use of social media puts them at risk of the adverse effects of prolonged and unregulated exposure."
Ohio Attorney General Andy Wilson praised the appeals court's decision, calling it "a win for Ohio families."
Wilson said in a statement that the ruling would allow parents to supervise their children's use of social media.
"The court agreed that parents - not social media companies - should get a say in what kids see online. We have an obligation to keep our children safe, and today, the most dangerous place for our kids is the internet," he stated. "This decision gives parents the tools to be involved and provide oversight."
NetChoice said the appeals court's decision will threaten the online privacy and constitutional rights of Ohioan residents. The group suggested that it intends to continue the legal challenge.
"By requiring parents to override the government's determination, Ohio has violated bedrock First Amendment principles ," Paul Taske, director of the NetChoice Litigation Center, said in a statement. "We are currently reviewing our options on how best to move forward."
NetChoice last year won court rulings blocking a similar social media parental consent law in Arkansas and a children's digital privacy law in California.
Australia became the first country last December to impose a ban on social media for children under 16 amid concerns about the online safety risks to the nation's youth.
Several countries have since followed suit or are weighing similar social media restrictions over concerns about the platforms' impact on children's mental health. Among those countries are the UK, Austria, Denmark, France, Indonesia, and Malaysia.
Reuters contributed to this report.
Tyler Durden
Fri, 06/19/2026 - 11:10 Close
Fri, 19 Jun 2026 14:45:00 +0000 Russia Vows "Massive Group Strikes" On Ukraine After Drone Swarm Attack On Refinery
Russia Vows "Massive Group Strikes" On Ukraine After Drone Swarm Attack On Refinery
Ukraine's massive drone swarm attack on the Russian capital, targeting critical energy infrastructure including a major refinery and storage tank fa
Read more.....
Russia Vows "Massive Group Strikes" On Ukraine After Drone Swarm Attack On Refinery
Ukraine's massive drone swarm attack on the Russian capital, targeting critical energy infrastructure including a major refinery and storage tank farms, has sparked fuel-shortage fears in Moscow while prompting Russia to warn Kyiv of "massive group strikes" in retaliation.
On Thursday, 200 Ukrainian suicide drones swarmed Gazprom's Moscow Refinery in what military observers are calling Kyiv's most brazen offensive of the four-year war to date.
Footage from the southeastern outskirts of the city showed the drone swarm attack and the resulting columns of black smoke billowing from the heavily damaged refinery and storage tank farms.
"It is no coincidence that the president announced some time ago, after yet another Kyiv terrorist attack, that we will now conduct massive group strikes on a regular basis against targets whose condition directly affects the combat readiness of the Ukrainian Armed Forces ," Russian Foreign Minister Sergei Lavrov told reporters yesterday, according to Interfax.
Ukraine's drone attack appears to have targeted Russia's refining capacity, as concerns grow that fuel shortages could soon materialize in the capital area.
Sergey Vakulenko, a senior fellow at the Carnegie Russia and Eurasia Center in Berlin and a former Russian oil executive, told Bloomberg that a gas shortage in Moscow is now unavoidable.
"The authorities will do everything they can to bring fuel in from other regions," Vakulenko said. "However, rail capacity is not unlimited, and nearby refineries have also been damaged."
Kyiv has been pounding away at Russia's energy infrastructure with drones. The latest data from EA Analytics indicates that Russian crude-processing rates are set to drop to two-decade lows in June.
Here's TD Securities Roman Schweizer's first take on the attack:
The G7 confab happened without any major blowups. The formal declaration is here. Notably, the group promised support for UKR and tougher sanction on RUS. "We commit to increase the pressure on the Russian war economy. In this context, we will strengthen our sanctions, including those on the oil and gas sectors. We consider this the right moment to proceed with additional measures, as President Trump has delivered a deal that we support in reopening the Strait of Hormuz." UKR continues to make incredibly effective long-range strikes into Moscow, spectacularly hitting a storage tank at an oil refinery. There is stunning footage of black smoke billowing over Moscow (generating both real and psychological effects). The war isn't going well for Putin either tactically or strategically. UKR has seized the momentum - the big question is what comes next: a diplomatic off-ramp or military escalation? We struggle to see how RUS could do something to change the battlefield dynamics and worry that a desperate Putin might try something desperate.
What Russia's "massive group strikes" response will look like remains to be seen, but the threat of gray-zone sabotage across the West is rising. That could include a campaign of cyberattacks, arson, logistics disruption, rail and port interference, telecom or undersea-cable incidents, and attacks against defense supply-chain nodes supporting Ukraine.
Tyler Durden
Fri, 06/19/2026 - 10:45 Close
Fri, 19 Jun 2026 14:20:00 +0000 The Crypto Risk No One Is Discussing
The Crypto Risk No One Is Discussing
The Crypto Risk No One Is Discussing
Submitted by QTR's Fringe Finance
With bitcoin hovering near $65,000, down about 50% over the last year, the mood across crypto has become increasingly subdued lately.
For most of the 2020s, cryptocurrency transformed from a niche financial experiment into a major political issue. What began as a technology debate evolved into a cultural and ideological battleground, with Republicans increasingly positioning themselves as defenders of digital assets and free markets while Democrats often emphasized consumer protection, financial oversight, and regulatory scrutiny.
Aside from worrying about adoption, quantum computing and things like what would happen if Satoshi’s bitcoin ever moved, I see another major risk for bitcoin holders and crypto advocates that isn’t being talked about nearly as much as I think it should It’s not technological, macroeconomic or regulatory—at least not in the way most people think.
The real risk is political. And it starts with a simple question: What happens if Democrats come roaring back in 2026 and then win the White House in 2028?
For most of the decade, cryptocurrency has steadily moved from being a financial technology story to becoming a political identity. Republicans increasingly embraced crypto as a symbol of innovation, economic freedom, and resistance to government control. Democrats, meanwhile, have always positioned themselves as the party of oversight, consumer protection, and financial regulation. Elizabeth Warren is already foaming at the mouth over the SpaceX IPO.
Crypto bears nowadays argue that with the entire backing of the U.S. political apparatus, bitcoin has had trouble holding a price in the six figures. This must mean adoption has peaked. As Peter Schiff never misses an opportunity to remind bitcoin investors, if an asset can't stay above major price milestones after getting ETFs, Wall Street, Silicon Valley, half of X, and a crypto-friendly federal government cheering it on, maybe the problem isn't a lack of catalysts. Maybe the catalysts have already been spent.
In that case, most investors wouldn’t just be betting on bitcoin anymore. They’d be betting on a political environment that appears unusually favorable to crypto. The White House is openly supportive. Regulators have eased their tone. Congress is debating legislation that could provide long-awaited clarity for digital assets. Not surprisingly, capital flowed back into the sector in the first year of the Trump administration.
The entire crypto ecosystem has become increasingly intertwined with that political backdrop…and now our financial system .
Michael Saylor continues to use Strategy as a giant bitcoin acquisition vehicle despite growing questions about how some of the company’s securities are trading relative to their underlying economics .
Strategy is now trading at a discount to its estimated net asset value, while Saylor’s STRC preferred product recently closed around 91 cents on the dollar—nearly 10% below par. I wrote a warning about this product back in April while Michael Saylor was taking daily victory laps on X about how it kept closing at par. Those days are over.
As this is all occurring in the background, the broader message remains that crypto still has powerful political allies. And at a time where things already are looking shaky in crypto, that confidence may be setting up the industry’s next major vulnerability. Because if Democrats regain power, they are unlikely to view crypto through the same favorable lens.
So by 2028, cryptocurrency may no longer be viewed simply as an emerging technology sector or a new asset class. It could instead become one of the defining symbols of the Trump era itself. Trump family members, business entities, and individuals closely connected to the administration have reportedly generated more than $2 billion in crypto-related wealth “while more than a million investors lost the same amount on the other side of those trades”.
Chances are, Elizabeth Warren and her merry band of socialists aren’t going to be overjoyed about that. And political battles are often fought over narratives, symbols, and perceived abuses of power.
By the end of a second Trump term, many Democrats may see crypto not as a neutral technology but as a financial ecosystem deeply intertwined with the political movement they are trying to defeat.
That creates a potentially dangerous setup for investors. Democrats would not need to argue that bitcoin itself is inherently harmful or that blockchain technology lacks value. Instead, they could frame the industry as a vehicle for conflicts of interest, political favoritism, speculative excess, and extraordinary wealth creation among a relatively small group of well-connected insiders. That is a much easier argument to make, particularly to voters who do not own digital assets and are unlikely to lose sleep over the fortunes of stablecoin issuers, token promoters, crypto treasury companies, or billionaires who have amassed enormous wealth through the sector.
Every political era eventually produces a reaction, and the stronger the pendulum swings in one direction, the harder it often swings back. If Democrats conclude that the Trump years were characterized by excessive deregulation, blurred lines between public office and private business interests, and a speculative boom that disproportionately benefited insiders, financial markets could become a major target for reform. Crypto would almost certainly find itself near the top of that list.
The range of potential initiatives is broad. Lawmakers could pursue tougher disclosure requirements for elected officials and their families, expand insider trading enforcement, increase reporting obligations for large investors and corporate insiders, and devote greater resources to investigating market manipulation and politically connected investment vehicles. While those proposals might be presented as ethics reforms or good-governance measures, their practical impact could extend well beyond Washington and reshape how capital flows throughout financial markets.
Cryptocurrency would be exposed. A future Democratic administration could seek expanded SEC authority over digital assets, tougher anti-money-laundering standards, more aggressive know-your-customer requirements, stricter oversight of stablecoins, enhanced reporting obligations for exchanges and wallet providers, tighter rules governing token issuance, and new restrictions on decentralized finance platforms. Basically, the total opposite of what this administration is doing: pardoning various white collar criminals and exploiting the public markets for personal gain.
Congress could also revisit broader financial reforms that seem politically unrealistic today but could quickly gain momentum under a different political environment, including transaction taxes, stricter leverage limits, expanded beneficial ownership disclosures, enhanced monitoring of digital asset transactions, and greater scrutiny of corporate treasury strategies built around cryptocurrency holdings.
None of these measures would require banning bitcoin, and that is the point many investors miss. Governments do not need to prohibit an activity outright to change behavior. They simply need to increase compliance costs, reporting requirements, legal uncertainty, and regulatory complexity enough to make investors, institutions, and corporations think twice before committing capital. Markets are extraordinarily sensitive to incentives, and they are also forward-looking. By the time new rules are formally enacted, much of the repricing may have already occurred.
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If investors begin to believe that a decent Democratic performance in 2026 could happen, and a Democratic sweep is possible in 2028, they could think about how it may usher in a significantly tougher regulatory environment. And then, crypto prices may not wait for Election Day to react. Capital could begin adjusting months in advance. Investors would price in future restrictions, valuations would come under pressure, policymakers could point to declining prices as evidence that speculative excess is being wrung out of the system, and the resulting weakness could generate additional political support for further reforms. In that scenario, the expectation of regulation becomes nearly as powerful as regulation itself.
Supporters of such policies would insist that none of this constitutes a crackdown. They would argue that it represents a long-overdue return to accountability after years of meme speculation, regulatory arbitrage, and politically connected wealth creation. Critics would see something very different, calling it political retaliation disguised as financial reform. Both sides would undoubtedly believe they are acting in the public interest. Markets, however, tend to care less about motives than outcomes, and the outcome for crypto could be painful.
At the moment, most investors are focused elsewhere. They are watching bitcoin hover around $65,000. They are tracking ETF flows, following Michael Saylor’s latest purchases, and celebrating every headline that appears to confirm crypto’s growing acceptance within the American financial system. What they may not be watching closely enough is the possibility that the industry’s political victories are laying the groundwork for its future political vulnerability.
If Democrats retake Congress in 2026 and capture the White House in 2028, the debate surrounding cryptocurrency could change dramatically. The conversation may no longer revolve around adoption, innovation, or even bitcoin itself. Instead, it could become a broader referendum on the political and financial ecosystem that grew around crypto during the Trump years.
And if that happens, the next major crypto bear market lower from here may not begin with a recession, a bankruptcy, or a technological failure. It may begin with an election.
--
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Tyler Durden
Fri, 06/19/2026 - 10:20 Close
Fri, 19 Jun 2026 13:30:00 +0000 "No Greater Threat To America's Way Of Life": Senate Unanimously Passes Resolution To Condemn CCP Leader Xi Jinping
"No Greater Threat To America's Way Of Life": Senate Unanimously Passes Resolution To Condemn CCP Leader Xi Jinping
"No Greater Threat To America's Way Of Life": Senate Unanimously Passes Resolution To Condemn CCP Leader Xi Jinping
Authored by Dorothy Li via The Epoch Times,
U.S. senators have voiced support for ordinary Chinese people and denounced communist regime leader Xi Jinping for lying to Americans and committing human rights abuses.
The U.S. Senate unanimously approved on June 16 by voice vote a resolution (Senate Resolution 444) condemning Xi for “deceit, undermining prospects for peace and security, and orchestrating crimes against humanity.”
The resolution also encourages the U.S. government and its agencies to use all available tools—including the authorities under the Global Magnitsky Human Rights Accountability Act, which allow sanctions against individuals responsible for serious human rights violations or corruption—to hold Chinese Communist Party (CCP) officials accountable.
The vote came just a day after Xi’s 73rd birthday.
“There is no greater threat to America’s way of life, peace, and prosperity in the world than Xi Jinping and the CCP,” Sen. Rick Scott (R-Fla.), who introduced the resolution earlier this month, told the Senate before the vote.
“Xi Jinping hates us. Communist China wants to destroy us. He is not a partner. He is not a competitor. He is a brutal dictator leading a criminal organization that lies, cheats, steals, exploits slave labor, and commits genocide and crimes against humanity on an industrial scale.”
Under Xi’s leadership, the CCP covered up the COVID-19 outbreak after it first emerged in the central Chinese city of Wuhan in late 2019, allowing it to develop into a global pandemic.
The resolution notes that the CCP lied to the world about where the SARS-CoV-2 virus, which causes COVID-19, originated and how easily it was transmitted, while using international organizations such as the World Health Organization to “peddle falsehoods.”
As a result of these deceptions, more than 1 million people died from COVID-19 in the United States alone, according to the resolution.
Sen. Rick Scott (R-Fla.) speaks during the Conservative Political Action Conference in Grapevine, Texas, on March 28, 2026. Leandro Lozada/AFP via Getty Images
In addition to the global pandemic, the resolution also highlights the CCP’s role in the fentanyl crisis in the United States.
Xi pledged, in 2019 and again in 2023 , to work more closely with the U.S. government to curb the flow of fentanyl precursors from the country. Despite these promises, more than 70,000 Americans died from fentanyl overdoses in recent years, with the 2025 National Drug Threat Assessment identifying fentanyl and other synthetic drugs as the “primary drivers of fatal drug overdose deaths nationwide,” the resolution stated.
On the trade front, Xi “doubled down” on the CCP’s decades-long “tradition of cheating,” the resolution stated.
When the Clinton administration sponsored China’s entry into the World Trade Organization (WTO) in 2001, the CCP promised to transition to a more market-oriented economy, including reducing state control of trade and protecting intellectual property.
However, after more than 25 years, the CCP still “fails to uphold many” of those promises and continues to violate WTO obligations, the resolution stated.
Espionage and cyberattacks have also surged, according to the resolution. In 2017, for instance, four Chinese military-backed hackers carried out a cyberattack against the U.S. credit company Equifax and stole the personal information of about 145 million Americans, according to the FBI.
More than 60 espionage cases linked to the CCP were documented in 20 U.S. states from February 2021 to December 2024, according to the resolution.
Among these was a naturalized U.S. citizen who, in December 2024, pleaded guilty to conspiring to act as an agent of the Chinese regime in relation to running a secret Chinese police station in New York City.
The resolution cites the CCP’s records of human rights violations, including the massacre of student-led protesters demanding political reform and greater freedom at Beijing’s Tiananmen Square in June 1989.
Even 36 years later, the bloody repression continues to serve as a “stark reminder of the sheer evil and cowardice” of the CCP and its inability to quash the aspirations of the Chinese people, according to the resolution.
It also highlights the regime’s ongoing abuses, such as the state-sanctioned practice of killing prisoners of conscience—most notably Falun Gong practitioners—for organs.
U.S. President Donald Trump has said that he spoke directly with Xi about releasing Lai during his recent visit to Beijing, but that Xi called Lai’s case “a tougher one” for him.
Scott, in a June 16 statement, called for courage and action.
“The CCP, especially under Xi Jinping’s tyranny, has a particular brand of evil,” Scott said in a statement. “They seek to control the world, and in their mind, that means destroying anyone who stands in their way—whether it’s their own people or not.
“We cannot be afraid to stand up to our enemies and hold the line for the next generation of Americans.”
Tyler Durden
Fri, 06/19/2026 - 09:30 Close
Fri, 19 Jun 2026 13:08:00 +0000 Israel-Hezbollah Agree To Ceasefire After Clashes Stall Opening Round Of US-Iran Nuclear Talks
Israel-Hezbollah Agree To Ceasefire After Clashes Stall Opening Round Of US-Iran Nuclear Talks
Summary :
Israel and Hezbollah Agree To Ceasefire
Opening Round Of
Read more.....
Israel-Hezbollah Agree To Ceasefire After Clashes Stall Opening Round Of US-Iran Nuclear Talks
Summary :
Israel and Hezbollah Agree To Ceasefire
Opening Round Of US-Iran Nuclear Talks Postponed After Israel-Lebanon Clashes Erupt
Israel and Hezbollah Agree To Ceasefire
Israel and Hezbollah have agreed to a ceasefire that will begin on Friday at 4 p.m. local time, Reuters reported.
ISRAEL, HEZBOLLAH AGREE TO CEASEFIRE STARTING ON FRI: RTRS
ISRAEL, HEZBOLLAH AGREE ON CEASEFIRE FROM 4PM LOCAL : REUTERS
WTI futures tumbled on the ceasefire headline, falling from about $76.40 a barrel to $75.56, as traders priced in reduced geopolitical risk.
The earlier escalation between Israel and Hezbollah increasingly looks as if both sides were squeezing in last-minute strikes ahead of the ceasefire set to take effect later today.
The ceasefire - if it holds - now sets up for nuclear talks between US and Iran.
Opening Round Of US-Iran Nuclear Talks Postponed After Israel-Lebanon Clashes Erupt
Talks between Iran and the US were postponed on Friday in Switzerland, delaying what was supposed to be the opening round of negotiations towards a permanent peace and nuclear deal.
The delay appears to center on a new escalation between Israel and Iran-backed Hezbollah militants in southern Lebanon, a troubling development that threatens the fresh interim deal signed by President Trump and Iran just days ago. Tehran has insisted that a ceasefire in Lebanon is part of the interim deal, meaning the Israel-Hezbollah front could derail the US-Iran diplomatic path to a sustained reopening of the Strait of Hormuz .
The Financial Times provided more details on the overnight development:
Talks between Iran and the US in Switzerland were postponed due to Israel launching a wave of deadly air strikes on southern Lebanon, according to three people familiar with the matter.
Iran did not send a delegation to Switzerland for the nuclear talks because of the attacks, the people said. The interim agreement signed by the US and Iran on Wednesday stipulates the "immediate and permanent termination" of fighting, including in Lebanon.
A diplomat familiar with the Switzerland talks told the outlet:
The Iranians have asked for guarantees that hostilities in Lebanon will end, as outlined in the signed agreement, and mediators are currently working to resolve the issue.
According to other FT sources, Iran's position is effectively "no Lebanon, no deal," arguing that it has restrained Hezbollah while Washington has failed to restrain Israel.
Israeli airstrikes across more than 10 villages in southern Lebanon killed 18 people and wounded 33, according to Lebanon's health ministry.
Itamar Ben Gvir, Israel's national security minister, reacted on X to the latest fighting in Lebanon:
For every tear of an Israeli mother, a thousand Lebanese mothers must weep. All of Lebanon must burn! With all due respect to the Americans, Israel must make it clear to the entire world that the blood of our sons and the security of our citizens are not forfeit. All of Lebanon must burn. Our supreme duty is to protect the citizens of Israel and the soldiers of the IDF, and this commitment takes precedence over every other consideration. I told the Prime Minister, even in our private meetings: For every tear of an Israeli mother, a thousand Lebanese mothers must weep. Enough with the ping-pong. In the Middle East, you don't win with measured responses and restraint—you need to go berserk. To obliterate. To crush the terror.
Drop Site provided more color on the canceled talks:
Al Mayadeen report earlier today that Iran's delegation suspended its trip to Geneva due to ongoing Israeli attacks in southern Lebanon.
A White House spokesperson later said Vice President JD Vance, head of the US delegation, also canceled his planned trip to meet Iranian negotiators and begin talks on negotiating and implementing the postwar framework
Reuters reported the delegation had been preparing to launch the first round of the agreement's 60-day negotiations. Tehran had previously told Washington and mediators that developments in Lebanon would be a key factor in whether talks proceed.
Pakistani journalist Kamran Yousaf wrote on X, "Pakistan has called back its advance team from Switzerland, throwing the next round of Iran-US talks into uncertainty."
He added, "With Tehran seemingly reluctant to engage at a European venue, diplomatic sources say Islamabad or Doha is now the most likely destination for the next round of negotiations."
Beyond the overnight fighting in southern Lebanon, the takeaway is that the interim deal still gives Washington and Tehran a 60-day ceasefire window, immediately reopening the Strait of Hormuz and creating a framework for eventual talks on Iran's nuclear program.
The problem now is that both sides need to control their proxies and allied partners. Tehran must keep its Hezbollah fighters restrained, while the Trump administration must keep its Israeli ally from escalating in Lebanon. Without that dual restraint, the 60-day ceasefire window could collapse.
Tyler Durden
Fri, 06/19/2026 - 09:08 Close
Fri, 19 Jun 2026 13:05:00 +0000 UK Gilt Yields Spike As Burnham Win Opens Door To Oust Starmer
UK Gilt Yields Spike As Burnham Win Opens Door To Oust Starmer
The odds of embattled UK Prime Minister Keir Starmer being ousted by the end of July are soaring this morning...
UK Gilt Yields Spike As Burnham Win Opens Door To Oust Starmer
The odds of embattled UK Prime Minister Keir Starmer being ousted by the end of July are soaring this morning...
...after Greater Manchester Mayor Andy Burnham won a decisive victory for the ruling Labour Party that delivers him a seat in Parliament and, with it, a pathway to challenge Starmer for his job.
Burnham was elected in a standalone contest for the constituency of Makerfield, in northwestern England, with a convincing 54.8% of the vote. He defeated Robert Kenyon from Nigel Farage’s right-wing Reform UK, who secured 34.5%, while third-placed Restore Britain registered just under 7%.
In a post on X, Starmer congratulated his rival on his victory.
“Voters chose Labour’s campaign of hope and optimism over division and hate,” he wrote.
Farage said he was “disappointed,” in a video posted after the result.
Addressing voters who left his party for Restore he asked:
“What do you want? We are the challenger party to the left in this country, and I would urge you to think again.”
A defiant Starmer said in response that he would run against Burnham in any leadership contest.
“If there is one, I’ll stand,” he told broadcasters on Friday morning, hours after Burnham’s victory:
“I’m not going to walk away.”
As Bloomberg reports, the prime minister’s fortunes have faded after he led his party to a dismal showing in the May locals, where Reform gained ground. In the aftermath, almost a quarter of Labour’s more-than 400 MPs called on Starmer to go.
“Tonight could, just could, be the turning point,” Burnham said after the results were announced to loud cheers from his supporters.
“I do say to my own party, this is a final chance to change.”
“We must hear it, we must act upon it, and we must get it right,” he said.
“There will be no second chance.”
Despite, Burnham's ruling out changing the government’s limits on borrowing if he were to gain power, in a bid to reassure investors about his fiscal plans, his win pushed Cable slightly lower and gilt yields notably higher:
“With Burnham having made a statement win, the next few months will likely see domestic political risks dominating headlines in the UK and as a result markets pricing in real political risk premium, ” said Megum Muhic, a strategist at RBC.
Burnham has the best (least worst) ratings of any major UK politician...
“The prime minister is now in political quicksand,” James Lyons, Starmer’s former director of communications, told Sky News.
“There is now a very good chance that Andy Burnham will be installed as prime minister without a contest,” he said, adding that the size of the win makes that more likely.
If Starmer steps down or is voted out by the Labour Party membership, the UK would usher in its fifth prime minister in less than four years.
What happens next? Here is a concise breakdown of key events from The Times political editor Steven Swinford .
Cabinet ministers will this afternoon tell Sir Keir Starmer to set out a timeline for his departure in the wake of Andy Burnham's by-election victory in Makerfield
The prime minister is holding a series of meetings and calls with ministers and Labour MPs. The Times has been told that 'multiple' cabinet ministers will tell him that his "time is up". Senior figures in No 10 are also telling Starmer it is time to go
Starmer insists he is going nowhere. He is planning to use the calls to make the case for his Premiership and try to shore up support
His pitch is twofold: 1) A contest will tear the party apart and 2) We are delivering - NHS waiting lists are falling, the number of small boat crossings is down, legal migration if falling. 'The worst thing we can do is take our foot off the gas'
Cabinet ministers say there is no route through this. It's about accepting political reality and leaving with dignity
We're now locked in a debilitating stalemate. Neither Andy Burnham nor Keir Starmer wants a leadership contest, for very different reasons - Burnham because he favours a coronation, Starmer because he wants to stay in power and believes a challenge will rip the party apart
Starmer is insisting he will fight any challenge. Allies say he has a £100,000 war-chest and all the infrastructure -including key staffers, campaign literature etc - in place. He is ready to go
Burnham allies think Number 10 has lost contact with reality. They argue that on any measure it is over for Starmer and that he should accept reality and stand down. They accuse him on to power and say his position is untenable
It looks increasingly like Burnham and Starmer may not talk until next week. As per @PronouncedAlva
Burnham has his list of nominations ready to go - 200+ - and is prepared to hand them over to Starmer to pressure him into going
The situation is clearly unsustainable. So how will the deadlock be broken? First, pressure from backbenchers - 100 Labour MPs have now called for him to go. That number will only rise this weekend
Second, pressure from Cabinet ministers as above. But here's the rub - we have been here before and he has just ignored them. Shabana Mahmood, Ed Miliband, John Healey, Wes Streeting... the list is getting longer and longer. We are somewhere between a rock and a hard place.
Tyler Durden
Fri, 06/19/2026 - 09:05 Close
Fri, 19 Jun 2026 12:51:52 +0000 Futures Rebound, Oil Slides, After Israel And Hezbollah Agree To Ceasefire
Futures Rebound, Oil Slides, After Israel And Hezbollah Agree To Ceasefire
Update: the Yo-Yo insanity that is the on again, off again Iran war. Moments after we reported that futures and global risk assets had sold off overnight on
Read more.....
Futures Rebound, Oil Slides, After Israel And Hezbollah Agree To Ceasefire
Update: the Yo-Yo insanity that is the on again, off again Iran war. Moments after we reported that futures and global risk assets had sold off overnight on a delay to today's start of peace talks in Switzerland due to Iran's protest of ongoing violence in Lebanon, moments ago Reuters reported that Israel and Hezbollah have ?agreed to a ?ceasefire set to begin at 4 ?p.m. local time ?on Friday, citing a senior US official ?
“Hezbollah and ?Israel have agreed to a ceasefire,” the official ?said on ?background, adding that negotiators for ?the ?U.S. and Qataris worked out the deal with ?help from ?Iran. “We ?understand that after the ?exchange of fire ?earlier ?today, Israel and Hezbollah are ?now ?in a ?ceasefire.”
The report was confirmed by an Israeli official speaking to the Jerusalem Post: "We have entered a ceasefire. We will continue to act against threats and will remain in the Strip. If Hezbollah harms our soldiers or civilians, we will respond forcefully".
In kneejerk reaction, S&P futures which were down 0.4% erased half their losses...
... while oil dropped from session highs.
And now we wait the inevitable next reversal of this neverending newsflow yoyo.
* * *
Earlier:
With US markets closed for the Juneteenth holiday, global stocks are ending a strong week on a cautious note as the recent relief over an interim peace deal between the US and Iran gave way to a focus on the challenges of securing a lasting agreement. As of 8:30am, S&P 500 futures slid 0.4% after the benchmark posted its best week since the end of May (despite the drop, the S&P is still up on the week, and up 11 of the past 12). Europe’s Stoxx 600 was little changed, while Asian stocks retreated 0.4% from an all-time high. Markets in China, Hong Kong and Taiwan were shut as well.
Brent crude rebounded from the lowest price since the start of the war, and fluctuated near $80 a barrel as traffic through the Strait of Hormuz appeared to thin on Friday, just a day after a pledge by the US and Iran to lift a dual blockage prompted a burst in oil flows.
Precious metals, which had already dropped ahead of the overnight escalation, extended losses with gold dropping to the mid-$4100s.
Talks on a permanent deal between Washington and Tehran that were meant to be held in Switzerland on Friday have been delayed, after Israel and Iran-backed Hezbollah militants clashed overnight in Lebanon, a development the Financial Times reported was behind the postponement. Iran has made a truce in Lebanon a condition of its preliminary deal with the US. At the same time, the White House announced late on Thursday that Vance would not be traveling to the talks and said the logistics had not been "simple or predictable".
The latest snafu comes a day after the US dropped its naval blockade of Iran after the two countries signed a deal aimed at ending the conflict.
“Of course, with Trump there can always be some derailment along the way, but we believe that we’re set into a new phase of de-escalation,” said Alexandre Drabowicz at Indosuez Wealth Management. “There are 60 planned days of negotiations,” he said, advising investors not to rush to conclusions about a permanent deal.
Meanwhile in the UK, gilts led a rise in European bond yields after Greater Manchester Mayor Andy Burnham won a seat in Parliament, handing him a pathway to challenge Prime Minister Keir Starmer for his job. Investors are debating whether a Burnham premiership might shift to a looser fiscal policy (spoiler alert: yes ).
In rates, the pound outperformed most major currencies, while the dollar held at its highest level since March. Bitcoin fell for a fourth consecutive day.
Despite today's hiccup, global markets are wrapped in a debt-funded AI euphoria: stocks are closing a pivotal week marked by the US-Iran interim deal, Fed Chair Kevin Warsh’s first policy meeting and the early days of SpaceX as a public company. Stocks have shown unprecedented resilience, buoyed by the frenzy around artificial intelligence and the billions of debt dollars funding it on the assumption that cheaper Chinese alternatives will not be able to dethrone expensive, token-sucking US incumbents.
Strategists surveyed by Bloomberg have raised their S&P 500 year-end targets from a month ago as Iran war disruptions eased and the earnings outlook improved. The average target climbed to 7,716 from 7,612 in May. That’s almost 3% higher than the last close and implies a near 13% gain for the year. Earnings estimates also increased for this year and next.
“Markets seem to be entering a rare couple of weeks with no major catalysts ahead,” said Roberto Scholtes, head of strategy at Singular Bank. “Hopefully, this is a chance to take a breather after a hectic year, and possibly also a period of sector rotation.”
Tyler Durden
Fri, 06/19/2026 - 08:51 Close
Fri, 19 Jun 2026 12:35:00 +0000 Gabbard Drops Fauci COVID-19 Receipts On Last Day: He Funded The Research, Cooked The Cover Story, Then Lied To Congress
Gabbard Drops Fauci COVID-19 Receipts On Last Day: He Funded The Research, Cooked The Cover Story, Then Lied To Congress
Gabbard Drops Fauci COVID-19 Receipts On Last Day: He Funded The Research, Cooked The Cover Story, Then Lied To Congress
Newly declassified documents released Thursday by Director of National Intelligence Tulsi Gabbard show that a U.S. national laboratory assessed the COVID-19 lab-origin hypothesis as a serious possibility as early as May 2020, as well as evidence of U.S.-funded coronavirus research that included planning for spike-protein modifications, receptor-adaptation experiments, and testing in humanized mice in collaboration with researchers at the Wuhan Institute of Virology.
The documents also prove that Anthony Fauci lied under oath.
The release, issued on Gabbard’s last day on the job, includes an eight-page May 27, 2020, assessment from Lawrence Livermore National Laboratory’s Z Program. That assessment concluded that “all of the necessary conditions for an accidental release of a laboratory-modified coronavirus - specifically a coronavirus adapted to recognize human cell receptors - were present at the Chinese Wuhan Institute of Virology in mid-to-late 2019 .” It assigned equal weight to a laboratory-modification hypothesis and a natural-origin scenario.
Screenshot, ODNI release
Meanwhile, Recall that while the government was locking us down, Dr. Anthony Fauci and those in his orbit were actively fabricating a 'wet market' narrative that would conceal US research as a possible origin - despite his own advisors initially insisting that COVID-19 looked manmade.
In his January 2024 transcribed interview, Fauci was asked about conversations concerning the same three topics - COVID origins, WIV, and EcoHealth . When asked about the CIA, he answered yes: he said he was briefed “once or twice” in a secure NIH facility and also recalled a briefing in a White House situation room.
The newly released documents then show a June 4, 2021 briefing involving CIA/WCP personnel, NSC officials, and Fauci , during which Fauci offered views on pangolin research, sick WIV researchers, single-lineage vs. multi-lineage evidence, and recommended scientists for the IC to contact. A separate CIA-context email says that same 40-minute secure video teleconfrenece involved CIA/WCPMC officials and that Fauci gave thoughts on the 4 May 2021 COVID-origin briefing and recommended U.S. scientists to consult.
So, he lied.
According to a statement released with the files, "Fauci worked with politicized career leadership in the Intelligence Community (IC) to suppress the truth about his actions , the virus’ lab-leak origins, and his role in directing U.S. funding for this dangerous research that caused immeasurable harm and countless lost lives. These documents expose Fauci’s direct role in influencing and manipulating IC assessments on COVID-19, and how Fauci lied to Congress in 2024 , when under oath he denied knowledge of or participation in discussions with intelligence officials about viral research."
U.S.-Funded Research and Planning for Coronavirus Manipulation
The files include the Year 5 progress report for EcoHealth Alliance’s NIH grant 5R01AI110964-05. Under Specific Aim 3, the project outlined plans to:
Sequence spike genes from bat coronaviruses.
Create mutants to assess how much further evolution would be needed for efficient use of human ACE2 or other receptors.
Conduct receptor-mutant pseudovirus binding assays.
Perform infection experiments in cell lines and humanized mice.
This research track overlaps with work described in the 2018 DEFUSE proposal , which involved EcoHealth Alliance, Peter Daszak, Ralph Baric of the University of North Carolina, and Shi Zhengli’s team at WIV. The proposal sought to create chimeric bat coronaviruses with enhanced human infectivity, including consideration of furin cleavage site insertion to improve lung-cell entry, and to test the resulting viruses in humanized mice originally developed in Baric’s lab.
A 2016 WIV paper included in the release describes a synthetic shuttle vector system for assembling large DNA fragments, with demonstrated capability up to 31 kilobases. The authors presented the method as a tool for “genome-scale DNA reconstruction,” a technique relevant to synthetic biology and virus engineering.
Surveillance work under the same NIH grant reported that 9 of 1,497 rural residents in southern China (0.6%) were seropositive for bat SARS-related or HKU10 coronaviruses.
And from leaked emails three years ago:
Among other things, the NIH helped fund experiments at WIV that infected genetically engineered mice with “chimeric” hybrids of SARS-related bat coronaviruses in what some scientists have described as unacceptably risky research .
...
Andersen laid them out plainly in an email to Fauci that same evening. “The unusual features of the virus make up a really small part of the genome (<0.1%) so one has to look really closely at all the sequences to see that some of the features (potentially) look engineered, ” Andersen wrote in the email. “I should mention,” he added, “that after discussions earlier today, Eddie, Bob, Mike and myself all find the genome inconsistent with expectations from evolutionary theory . But we have to look at this much more closely and there are still further analyses to be done, so those opinions could still change.” -The Intercept
Internal Discussions and Awareness of Manipulation Research
A June 8, 2021, internal email in the release references a 2016 New York Academy of Medicine meeting at which Peter Daszak reportedly discussed colleagues in China “manipulating the spike protein on coronavirus to make them more virulent.”
Other 2020–2021 emails show officials debating technical concerns, including references to a DOD report on a “suspicious added furin-site” and FBI reporting containing unusual genetic descriptions. One analyst noted the risk that non-experts could misinterpret technical data while still calling for scrutiny. Another observed that “the IC took direction straight from NIH… the people that funded the Wuhan Lab” and referenced “a complex web of money and politics influencing analysis.”
Picking Their Reviewer
July 2021 emails concerning the selection of outside reviewers for COVID-origin assessments show officials rejecting several candidates for political sensitivity or conflict-of-interest reasons:
James Clapper was viewed as too politically “hot.”
Anthony Fauci was flagged due to his position as a “customer” of the assessment through NIH funding ties.
Michael Morell was considered “too public.”
Sue Gordon and another individual identified only as “Beth” were also set aside.
And so...
These materials provide primary-source documentation that a U.S. national laboratory assessed a laboratory origin as equally plausible to natural emergence at a time when prominent scientific publications were publicly emphasizing a natural zoonotic source and characterizing alternative hypotheses as conspiracy theories. This includes the February 2020 Lancet letter and the March 2020 Nature Medicine paper “The Proximal Origin of SARS-CoV-2”, along with subsequent amplification by NIH leadership.
The research details in the declassified grant reports and proposals involved techniques and modifications - spike-protein engineering, receptor adaptation, humanized-mouse testing, and consideration of furin cleavage sites - that later featured prominently in scientific debate over SARS-CoV-2’s characteristics.
Shi and Daszak clinking glasses, undoubtedly after lots of humanized mice successfully died horrible COVID deaths.
Tyler Durden
Fri, 06/19/2026 - 08:35 Close