US stocks rallied yesterday on optimism for an eventual US-Iran deal

Aluminum jumped to a four-year high

Goldman Sachs beat Q1 earnings and revenue estimates as record equities trading from software and Iran-led volatility and a 48% surge in IB fees contributed to the firm's second-highest quarterly revenue (CNBC)

What we're watching this week:  

Full calendar here

Inshallah there will be lasting peace and stocks will rip🙏

Trade event contracts on Polymarket, the world's largest prediction market

US and Iran are continuing negotiations with ceasefire still in place (BBG)

Fed slashed T‑bill purchases in sharper-than-signaled pullback (BBG)

Investors eye Latin America again on ceasefire optimism (BBG)

Record-low inflation is cushioning EM's oil shock (BBG)

Data centers are creating a potential $10B windfall for insurers (BBG)

SEC chair says private credit is 'not a systemic risk' (FT)

Bankers forge ahead with $15B in IPO deals despite market swings (BBG)

Hong Kong issued 53% more IPO banker licenses to ease shortage (BBG)

Meta surpassed Google as the world's largest ad business (WSJ)

OpenAI accused Anthropic of inflating revenue numbers (TV)

OpenAI announced its first permanent London office (CNBC)

Sam Altman was attacked in two separate incidents over the weekend (SFS)

Luxury brands face profit squeeze as Iran conflict taints Dubai (RT)

Hollywood celebs unite to oppose Paramount-Warner deal (BBG)

Two Swiss bankers were jailed over a $23M insider trading scheme (BBG)

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Nvidia denied reports of seeking an acquisition of a large PC company like $120B-listed Dell or $18B-listed HP

$30B-listed United Airlines' has pitched a merger with $8B-listed rival American Airlines to US officials

GFL Environmental agreed to acquire Canada's Secure Waste Infrastructure Corp. in a $4.6B mostly stock deal, including debt

A consortium of I Squared Capital and Blackstone are seeking to acquire German media group Ströer's core advertising business at a potential $4B valuation; the consortium may seek to LBO the entirety of $2.2B-listed Ströer as well

Mattress firm Somnigroup agreed to acquire bedding supplier Leggett & Platt in a $2.5B all-stock deal

Swedish sensor tech maker Hexagon will buy peer Waygate Technologies  from energy tech giant Baker Hughes for $1.45B cash

White Claw owner The Mark Anthony Group of Companies acquired The Finnish Long Drink for $325M

China's TCL Electronics is considering selling a $200M stake in its Indian TV manufacturing unit to local buyers 

UK O&G giant BP agreed ​to buy a 60% operating interest in three ‌offshore exploration blocks in Namibia from Canada's Eco Atlantic Oil & Gas for $2.7M

Palo Alto Networks founder Nir Zuk will acquire local California lender Liberty Bank from Stone Point Capital and Reverence Capital to use it as a launchpad for financial services AI tools

IB boutique Perella Weinberg wil acquire UK peer Gleacher Shacklock

UK's largest pension USS acquired a majority stake in private credit firm Venn Partners from Singaporean real estate manager ESR Group

Brazilian state-owned oil firm Petrobras ​is in early talks to re-acquire the Mataripe refinery in Brazil from Abu Dhabi SWF ‌Mubadala

Canadian insurer Manulife is in talks to acquire the Swiss unit of Spanish telecom Cellnex

Bezos-backed customizable EV startup Slate Auto raised a $650M Series C led by TWG Global 

Subra, a Danish deep-tech high-temperature superconductor cable company, raised a $47M Series A led by Novo Holdings

MerQube, a cloud-native indexing platform, raised a $30M Series C led by 7RIDGE

Quartzy, a vertically integrated life sciences procurement platform, raised a $23M round led by Avenue Capital Group and BroadOak Capital Partners

Citra Space, a space tech startup focused on space object identification and characterization, raised a $15M Series A led by Washington Harbour Partners

Archangel Lightworks, a UK laser communications and optical ground station developer, raised a $13.5M Series A led by Santander Asset Management

Kimia, a chemical intelligence platform, raised a $7M seed round led by Airtree Ventures 

Round, a UK AI-powered finance automation platform, raised a $6M seed round led by Alstin Capital

Bill Ackman's hedge fund Pershing Square kicked off formal marketing for the combined $10B IPO of Pershing Square and new closed-end fund Pershing Square USA

Chinese EV battery giant CATL is seeking to raise $5B in a Hong Kong share or convertible bond sale following a stock rally

100-year-old Danish drugmaker Leo Pharma lined up banks for a Denmark IPO; the firm was last valued at a $3.5B EV when Nordic Capital took a minority stake in 2021

REIT National Healthcare Properties is seeking to raise $616M at a $1.1B valuation in its IPO

Brookwood Financial Partners-backed convenience store operator Yesway is seeking to raise $320M at a $1.4B valuation in an IPO

Obesity biotech Kailera Therapeutics is seeking to raise $533M in an IPO

Diagnostics medtech Alamar Biosciences plans to raise $160M in an IPO 

Malaysian chip-design firm Skyechip hired banks for a Malaysia IPO of 22% of shares

Chinese AI agent startup StepFun will unwind its offshore incorporation structure to pave way for a Hong Kong IPO

Nigerian business tycoon Aliko Dangote plans to offer shares in his Dangote Petroleum Refinery and Petrochemicals unit on multiple African stock exchanges

Goldman Sachs raised $6.5B in an investment grade bond sale

SoftBank is planning a six-part dollar and euro bond sale following a $2.6B hybrid bond sale and a debut $1.4B euro bond sale by its mobile unit SoftBank Corp just last week 

Strategy funded its latest $1B weekly Bitcoin purchase through the sale of its Stretch perpetual preferred shares

Shapoorji Pallonji Group, the Indian conglomerate behind India's biggest private credit deal, is seeking to delay payment on a separate $1.5B debt at its Goswami Infratech unit to allow more time for a refinancing deal

Software PE giant Thoma Bravo is winding down its growth equity business after just five years

26North Partners, the PE firm of Apollo co-founder Josh Harris, raised $6B for the biggest debut PE fund ever 

FOF Adams Street Partners raised $7.5B for its third private credit fund

Canadian investment consulting firm Mercer raised $3.8B for its eighth private markets FOF

Arcmont Asset Management, the private credit affiliate of asset manager Nuveen, raised a $2.5B credit CV led by Ares

Alua Capital Management, the $2B equity L/S hedge fund launched during Covid, will wind down after a disappointing 4% annualized returns

China's Ping An Insurance is seeking to sell $1B worth of PE LP stakes in software-focused funds of Vista Equity Partners and KKR

Malaysian PE firm Creador plans to raise $1B for its seventh PE fund next year

UK state-backed pension Nest committed $610M to private credit firm Crescent Capital

CapitaLand Investment, a real estate unit of Singapore SWF Temasek, raised $320M for its second APAC real estate credit fund

UK impact VC Eka Ventures raised $110M for its second fund to invest in consumer health and decarbonization

SEC says certain crypto interfaces don't need to register as brokers

Trump family's World Liberty Financial is facing an investor revolt

Kraken says criminal group claimed access to some customer data

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Sam Altman shared a rather personal piece following his brush with two attempted murder events over the weekend. It's live on his blog here.

John Manganaro highlighted some interesting findings from researchers studying inherited wealth. Particularly, how it's treated different from other windfalls. Read the works here.

Bloomberg Odd Lots sat down with Fed economist Jonathan Heathcote to hear about his recent research on the big macro force that's been driving stocks higher for years. Listen to their convo here.