🏛️ Governance & Political Risk

• Congress term limits: the issue is not age itself. The sharper point is institutional design. Congress was never meant to become a lifetime appointment. The cited snapshot of the 50 oldest currently serving members of Congress, ages as of 6/7/26, with Sen. Chuck Grassley (R-IA) — 92, frames longevity as a governance problem, not a competence-only debate. 1

• Geopolitical escalation risk: the administration’s tone does not look like one preparing to escalate. The read-through is lower near-term appetite for a bigger conflict impulse. 2

🍎 Mega-Cap Tech Setup

• $AAPL held up better than other megacaps during Friday’s carnage. That relative strength matters into WWDC week, but the event has often traded as a mini “buy the rumor, sell the news” setup. The key risk is whether the same event-driven fade repeats this time. 3

🪙 Crypto & ETH Beta

• $BMNR should not be treated like a normal equity anymore. The cleaner framework is a public-market ETH treasury vehicle with four moving parts: equity dilution risk, NAV premium/discount risk, staking upside, and heavy beta to the crypto cycle. The anchor data point is that BMNR last reported 5.416M ETH. 4

• $ETH is not dead; it is being repriced. The bear case is still live: ETH is around $1.7K, ETH/BTC is still weak, ETF demand has only just stopped bleeding, and low gas fees mean Ethereum scaled activity before ETH holders got paid. Downside zone stays $1,500-$1,350 if macro pressure returns. 5

🥇 Precious Metals Trend Check

• $GLD is -23% off ATH’s and $SLV is -44% off ATH’s after January’s blow-off top. The setup is no longer just a dip question. The real debate is whether fresh ATHs are still ahead or whether January marked the multi-year top. 6