Key TakeawaysMiddle East Tensions Surge: Iran launched direct missile and drone attacks against the UAE and Bahrain, targeting critical energy infrastructure including fuel tanks at the Muharraq facility.Hawkish Fed Pivot: US Fed Fund Futures have sharply repriced, with markets now expecting only 26 basis points of interest rate cuts for the remainder of 2026.Hedge Fund Drawdown: JPMorgan Chase & Co. (JPM) reports that hedge funds are suffering their worst drawdown since April as volatility linked to the co ...