Option expiries (updated)

Yuan seen strengthening to 6.8/USD in Q2, defying seasonal weakness. Strong trade flows, a widening surplus and large reserves support the currency, which is increasingly viewed as a regional haven.

SpaceX eyes $1.75T valuation in IPO, earmarking big share for retail investors. High demand expected.

SpaceX plans a record IPO, targeting a late May filing and June roadshow. The deal could raise $75bn at a $1.75tn valuation, with an unprecedented retail allocation set to reshape IPO dynamics and test global equity demand.

Health insurers like UNH & HUM jump 5%+ on 2.48% Medicare Advantage payment boost. Valuation looks strong.

Hopes for a U.S.-Iran deal are fading ahead of Trump’s deadline to reopen Hormuz, with officials warning the gap remains wide. Failure could trigger strikes on Iranian infrastructure, raising risks for oil markets and global volatility.

PBOC sets USD/ CNY reference rate for today at 6.8854 (vs. estimate at 6.8773) The 6.8854 rate is the strongest, for CNY, in nearly 3 years.

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