Markets Weekly June 13, 2026

Joseph Wang discusses inflation peaking as energy prices decline on Iran peace hopes, while warning of an impending oil spike if the SPR runs out. He also highlights the bearish impact of the SpaceX IPO and a broader equity supply surge from insider sales and big tech buyback exhaustion. - CPI headline is elevated due to energy prices, but core inflation is near the Fed's target, suggesting peak inflation. - Oil prices have fallen on progress toward an Iran deal, but the SPR is nearly depleted, risking a sharp oil spike. - SpaceX IPO was the largest ever, valuing it at $2 trillion despite ongoing losses, with massive insider selling expected. - Broader equity supply is increasing as companies issue shares and reduce buybacks, creating a headwind for US stocks. - If an Iran peace deal materializes, the Fed could turn neutral and eventually cut rates, boosting bonds. - The first Fed meeting under Chair Kevin may see a dovish surprise if Iran developments hold.