WS #14219

The dominant US-Iran narrative remains stable with no new escalation or de-escalation signals, and no counter-signals emerged. Corporate and macro news flow was routine, with no actionable surprises. This window carries 5 key development(s), 3 at significance:high: Trump orders substantial reduction in US-South Korea joint military exercises; Ukraine launches record drone attacks on Russian military-industrial targets; Apple developing own AI model for China with Alibaba. A further 2 development(s) sit below significance:high.