US-Iran Peace Breakthrough: Washington and Tehran say they’ve agreed to end the war and reopen the Strait of Hormuz, with Trump authorizing an end to the US naval blockade and a signing ceremony set for June 19 in Switzerland; details remain unclear, but markets are already reacting. Markets & Energy: Oil slid sharply (Brent around $83) as stocks jumped from Europe to Asia, while investors priced in lower inflation pressure from restored shipping—though analysts warn full normalization could take months. Regional Diplomacy: Pakistan is hosting the Geneva signing, and Qatar, the EU, and UK PM Starmer welcomed the move, all stressing freedom of navigation and faster implementation. Policy Spillovers: South Africa’s rand strengthened and traders cut expectations for further rate hikes after the oil shock eased; ECB Lagarde also pointed to inflation feeding through. Business & Trade Signals: India’s Modi welcomed the deal, hoping it restores commerce and navigation; the EU said it may weigh participation in post-conflict stabilization. Tech & Industry: Israel launched a NIS 150m initiative to build advanced integrated photonics R&D infrastructure, aiming to speed next-gen photonic chips.