UNITED STATES IS NEGOTIATING WITH DENMARK FOR ACCESS TO THREE ADDITIONAL BASES IN GREENLAND- NYT

Markets & equities: • S&P 500 and Nasdaq 100 both notch best days since May 12, 2025 Iran conflict: • Trump tells NBC News on Iran war: it’s coming to an end • Iranian foreign minister to Al Jazeera: we have not sent any response to the 15 American proposals, and we have not put forward any proposals or conditions • Iran’s Revolutionary Guards say they will target 18 U.S. companies operating in the region starting April 1 in response to attacks on Iran, according to state media; firms named include Microsoft, Google, Apple, Intel, IBM, Tesla and Boeing • Trump signals Iran war near end, says Strait of Hormuz to reopen after U.S. exit U.S.-China relations: • Jamieson Greer says preparations for a May summit between Donald Trump and Xi Jinping remain on track despite delays due to the Iran war Corporate & technology: • OpenAI beginning to let individual investors access its stock months before expected IPO - Axios • Meta: introducing first AI glasses built for prescriptions • China Vanke reports 2025 revenue down 32% y/y • Huawei reports 68 billion yuan in 2025 net profit, up 8.6% y/y - statement China policy & economy: • China set to extend ban on fuel exports into April; small volumes may be exempt for countries requesting help, sources say • New circular from the People’s Bank of China and State Administration of Foreign Exchange takes effect April 1, easing fund management for Chinese firms listing overseas and improving cross-border financing • Notice on China domestic air route fuel surcharge increase withdrawn Global policy & supply chains: • U.S. presses U.K. and allies to secure quantum computing supply chains - FT Energy & commodities: • South Korea to start crude oil swap with local refiners - Yonhap Fixed income & flows: • Japanese investors buy South Korean treasury bonds ahead of inclusion in World Government Bond Index, sources say

Oil futures extended losses as Donald Trump said the U.S. could exit the Iran conflict within two to three weeks. Brent crude fell below $100 a barrel for the first time in a week, while West Texas Intermediate traded near $98. Equities also rose despite the Strait of Hormuz remaining largely closed, with additional U.S. troops deployed to the region.