Sponsored by McLaren Resources

Inside the 14-Point U.S.-Iran Deal

The US-Iran memorandum now circulating through official briefings and wire reports is not built like a final settlement but a down payment.

Iran would get access to the two things it needs fastest: energy-market reopening and financial relief. Washington would get a ceasefire framework, a promise that Iran will not produce a nuclear weapon, and a two-month runway to turn those commitments into something enforceable.

That tradeoff is the deal’s central risk. The first benefits are measurable in shipping, oil sales, insurance, banking channels, and frozen funds. The final concessions are still largely stuck in future-tense language.

You can read more on the matter here.

What’s going on?

• NetJets Business Jet Diverts Before Fatal Texas Highway Crash (theDeepDive)

• Home insurance costs soared 45% in 6 years due to extreme weather: StatCan (GN)

• Trump Invokes Defense Production Act Amid Munitions Production Crisis (theDeepDive)

• G7 backs Canada as major global energy supplier to lessen reliance on Strait of Hormuz (CBC)

• US-Iran MOU: Obama’s Iran Deal Was Called ‘The Worst Ever’… But Was It, Though? (theDeepDive)

•  Donald Trump says US will not invest in $300bn fund for Iran (FT)

• Iran Hired Psychiatric Professionals to Handle Trump During War Negotiations (theDeepDive)

• Immigration department suddenly suspends citizenship of scores of ‘Lost Canadians’ (Globe)

• Bill C-14 Is Now A Law. What Happens To The Courts? (theDeepDive)

What’s the latest?

• AI: Jeff Bezos argued that AI will create labour shortages rather than mass unemployment, despite recent layoffs linked to automation. U.S. employers announced 97,006 job cuts in May, with 40% attributed to AI-related efficiencies, while a recent poll found 50% of Americans fear AI could threaten jobs in their household. Bezos also promoted his AI startup and space ambitions, while Amazon has eliminated roughly 30,000 corporate roles since late 2025.

• Real Estate: Recent immigrants are buying homes faster than previous cohorts despite affordability challenges. In Ontario, immigrant homeownership after five years rose from 35.7% in 2018 to 40.2% in 2021, while Canadian-born ownership fell from 50.7% to 47.8%. In B.C., economic immigrants reached a 40.1% ownership rate versus 43.3% for Canadian-born residents, but often purchased more expensive homes (median $660,000 vs. $580,000) while carrying higher debt and contributing less to retirement savings.

• Mining: American Critical Minerals is advancing a Utah project targeting potash, lithium, and bromine from a single property. The project is located 20 miles from an existing U.S. potash mine, and the company believes it could support three revenue streams. The opportunity is notable because the U.S. imports ~90% of its potash from Canada and produces <1% of global potash supply.

• Economy: The Federal Reserve kept rates unchanged at 3.50%–3.75%, but 9 officials now expect a rate hike by the end of 2026. The Fed raised its 2026 inflation forecast to 3.6% from 2.7%, while projecting inflation to fall to 2.3% in 2027. Economic growth forecasts were trimmed slightly, with unemployment still expected to end 2026 at 4.4%.

• Politics: Trump said a proposed U.S.-Iran memorandum would require an immediate halt to Israeli military actions in Lebanon, full reopening of the Strait of Hormuz for at least 60 days, and negotiations over Iran’s stockpile of highly enriched uranium. He joked that if the deal succeeds he will take credit, but if it fails he will blame JD Vance, who is expected to attend the signing ceremony. The agreement remains tentative, and comments from U.S. officials that Iran’s uranium has effectively been inaccessible since last year raised questions about the administration’s justification for launching the war on Feb. 28.

Why Silver’s Drop May Not Mean the Bull Market Is Over

The stock market and stuff

• Cushing Crude Stocks Hit Tank Bottom Lows Not Seen Since 2014 (theDeepDive)

• Leaked: OpenAI Spent $34 Billion in 2025 Against $13 Billion in Revenue, With a $17 Billion Microsoft Bill (theDeepDive)

• Canadian dollar holds near seven-month low as oil prices slide (Reuters)

• Franco-Nevada Pushes Back on Burkina Faso Judgment Nullifying Karma Gold Stream (theDeepDive)

In the juniors

• First Phosphate Locks In Offtake Deals, Export Credit Backing at G7 (theDeepDive)

• Guanajuato Silver Pays Down Gold Loan Installments, Leaving Lone Bullet Payment (theDeepDive)

• Generation Mining Lands US$310 Million Credit Approval for Marathon Project (theDeepDive)

• Goliath Resources Targets Expansion, Motherlode Source in 50,000 Metre Surebet Drill Program (theDeepDive)

FULL DISCLOSURE: McLaren Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of McLaren Resources. The author has been compensated to cover McLaren Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.