The hour is defined by a shift in global market sentiment as a pause in U.S.-Iran hostilities drives optimism, pushing European stocks higher while causing oil prices and German bond yields to retreat. Competing with this narrative is President Trump’s launch of a new tariff blitz targeting 60 trading partners, including the EU, China, and the U.K. Elsewhere, massive wildfires in France and Spain have triggered record-breaking evacuations of over 300,000 people. In policy and industry, the Monetary Authority of Singapore unexpectedly tightened monetary policy, while Chinese chipmaker CXMT experienced a dramatic 530% surge during its trading debut, signaling a key move for Beijing’s domestic semiconductor goals.