Hello,

The US House passed a war powers resolution requiring President Trump to seek congressional approval to continue military operations against Iran, with four Republicans breaking from their party to back the measure.

Elsewhere, Trump claimed Iran has agreed to forgo nuclear weapons, North Korea unveiled a new uranium enrichment plant, and Hungary and Ukraine reached a deal clearing the main obstacle to Kyiv's EU membership bid.

All the details below ⤵️

Top 5 Stories

1️⃣ 🇵🇱🇱🇹 Poland and Lithuania in NATO nuclear deterrence talks: Poland and Lithuania confirmed they are in discussions about expanding their role in NATO's nuclear deterrence framework, following reports the US signaled openness to deploying nuclear assets in new European countries. Poland denied any plans to host weapons on its soil, with the topic set to be discussed at a NATO meeting in Brussels on June 18.

2️⃣ 🇺🇸🇮🇷 Trump claims Iran agreed to forgo nuclear weapons: President Trump said Iran has already agreed not to pursue nuclear weapons, though he acknowledged Tehran could still reverse course. An Iranian government official called the framing misleading, saying Iran has never sought such weapons, while mixed signals from both sides continue to cloud the state of ceasefire negotiations.

3️⃣ 🇮🇱🇱🇧 Israel and Lebanon agree to pilot Hezbollah-free zones: Israel and Lebanon agreed to establish pilot security zones in southern Lebanon from which Hezbollah would be excluded, with the Lebanese army taking full control of those areas. How the zones will be created and enforced remains unclear, with the broader ceasefire contingent on a full halt to Hezbollah fire and withdrawal of its operatives south of the Litani River.

4️⃣ 🇩🇪 Germany blames Russia for UN Security Council defeat: Germany's Foreign Minister Wadephul attributed Berlin's failure to win a rotating UN Security Council seat to Russian lobbying against its pro-Ukraine stance, as well as its position on the Middle East conflict. Russia did not respond to the accusations.

5️⃣ 🇺🇦🇪🇺 Ukraine-Hungary deal clears path for EU accession: Hungary and Ukraine reached an agreement on minority rights, removing the main obstacle to Ukraine's EU membership bid after Budapest had blocked progress for over a year. The EU is targeting mid-June to formally open the first enlargement cluster, though Hungarian Prime Minister Magyar cautioned the full accession process could still take 10 to 15 years.

Together with:

The Last Time Stocks Were This Expensive Was December 1999.

"Right now, it's good. But it was in '72, '86, 2000, and 2007." - Jamie Dimon, May 2026.

The Shiller CAPE ratio just hit 42.3. The only time in 140 years it's been higher? December 1999.

Stocks can stay expensive for a long time...

It’s one metric to consider, but when your portfolio is built around the most expensive equities in modern history, what else you diversify with could really matter.

Blue-chip contemporary and post war art has shown near-zero correlation with the S&P since 1995.* Prices are largely driven by private collectors competing for a fixed supply of artwork by artists like Banksy, Basquiat, and Picasso.

Masterworks lets you invest in shares of that market.

• $1.3B deployed across 500+ artworks

• 29 exits to date

• Net annualized returns like 16.5%, 17.6%, and 17.8%, not including those unsold

My subscribers skip the waitlist here.

^{*According to Masterworks data. Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.}

Major Story

🇺🇸 House passes Iran war powers resolution

The US House of Representatives voted 215-208 to pass a resolution requiring President Trump to seek congressional approval before continuing military operations against Iran, with four Republicans breaking ranks to support it.

It is the latest in a series of attempts by Congress to rein in Trump's authority over the now three-month-old conflict, with a similar resolution already advancing in the Senate.

The White House has pushed back, arguing the measure has no legal force and pointing to a ceasefire in place since early April.

Sporadic fighting continues, Iran has kept the Strait of Hormuz closed, and negotiations toward a lasting settlement have so far failed to produce a deal.

Other News

1️⃣ 🇰🇵 North Korea unveils new uranium enrichment plant: North Korea revealed a new nuclear fuel production facility, with Kim Jong Un vowing to expand the country's arsenal at an exponential rate and claiming weapons-grade material output has more than doubled over the past five years. South Korea's military said it was coordinating with the US to monitor developments.

2️⃣ 🌍 Trump threatens forced labour tariffs on 60 nations: President Trump threatened tariffs of 10–12.5% on 60 trading partners including the UK, EU, Canada and Australia over alleged forced labour failures, in a move designed to circumvent court rulings that struck down his earlier tariff measures. The EU pushed back, arguing the proposed levies breach a trade deal reached last July.

3️⃣ 🇨🇳🇬🇧 Chinese spies targeting UK officials on LinkedIn: A Five Eyes intelligence bulletin warned that Chinese military spies are posing as fake recruiters on platforms including LinkedIn to target UK government and military personnel, pressuring applicants to provide sensitive or classified information in exchange for payment.

Weekly Updates?

Want weekly updates as well as daily?

Subscribe to our sister publication Geopolitics Weekly here ⤵️

Our Shop

Ukraine Phone Wallpaper Pack