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Iran’s Revolutionary Guards have tightened their grip on wartime decision making despite the loss of top commanders, senior sources say, driving a hardline strategy that is propelling Tehran's drone and missile campaign across the region. RTRS
Iranian drone attacks could disrupt the Strait of Hormuz for months, but how long the Islamic Republic could sustain its missile barrage is less clear, according to intelligence sources and military analysts. RTRS
President Donald Trump’s chief of staff, Susie Wiles, is telling his advisers to bring ideas to the Oval Office to lower gasoline prices in the wake of the U.S. attack on Iran, according to two energy industry executives familiar with the conversations. Politico
Pro-American, Iranian Kurdish forces based in Iraq are preparing armed units that could enter Iran, creating a potential new front in an already expanding conflict. NYT
The US countered Cuba’s steps to loosen the government’s grip on the economy by barring fuel transactions through Cuban banks. BBG
Treasury Secretary Bessent reportedly informed House Republicans that they should “take the lead” to “pass our own housing affordability” legislation, in order to prevent Democrats from controlling the issue: Semafor
US Senate Republicans await the endorsement of President Trump in the Texas Republican Senate runoff between Cornyn and Paxton, billed as a choice between an established Republican candidate, and a MAGA firebrand: Politico
US-brokered peace talks between Ukraine and Russia initially planned for this week are postponed indefinitely due to the war in Iran, President Volodymyr Zelenskiy said. BBG
A federal trade-court judge on Wednesday ordered the Trump administration to start refunding the more than $130 billion it collected in the global tariffs invalidated by the Supreme Court last month. WSJ
China set its annual GDP goal at a range of 4.5% to 5%, its least ambitious target since 1991, signaling a tolerance of slower expansion. It modestly dialed down fiscal stimulus. BBG
The ECB has no reason to raise interest rates as of today in response to higher oil prices, Governing Council member Francois Villeroy said. BBG
BofA card spending, week to Feb 28th: +1.8% (prev. 4.4% W/W), slowdown driven by the Northeast is which spending fell sharply due to the second snowstorm.
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