Must Know Today April jobs smashed estimates: 115K vs 62K — best month in ~12 months. Unemployment holds 4.3%; wage growth soft +0.2% MoM. Jobs beat removes urgency for Fed pivot. Bitcoin holding $64.6K after Iran escalation; direct US military strikes Thursday spiked WTI to $98 overnight. Ceasefire chatter easing tension, but risk window remains open through weekend. Clarity Act hearing TODAY (July 17) — House vote on crypto regulatory clarity. Last meaningful legislative chance before August recess. Coinbase + Circle backing compromise language. Spot BTC ETF inflows back: 11+ day streak continues. May ETF flows net positive +$1.63B absorbed. Institutional positioning ahead of structural catalysts. |