IRAN: Al Jazeera Plays Down Suggestions Iran Has Made Uranium Demands

• +21,000 TYQ6 108.5 puts, 20 vs. 111-13/0.18% - new position w/ OI only 265 coming into the session

President Donald Trump posts on Truth Social: "Never allow the Traitor Democrats like Low IQ person Hakeem Jeffries, or Cryin’ Chuck Schumer, or the totally corrupt Fake News Media such as the phony and decaying Wall Street Journal, the Failing New York Times (Subscriptions way down!), or dying “60 Minutes,” to demean or criticize Operation Midnight Hammer, which totally obliterated the Nuclear Dust locations to the point where bloodthirsty Iran has been unable to get to it, or dig it out. Space Force has cameras on every inch of the 3 sites that were so brilliantly hit last June! Thank you for your attention to this matter! President DJT"

• The issue of securing Iran's stockpiles of enriched uranium has been viewed as a major issue in any Iran/US negotiations. However, Trump's frequent messaging that the enriched uranium is buried and inaccessible could be an indication that he is willing to let the issue go in an effort to reach a peace deal sooner rather than later. 

Retail sales rose by 6.7% Y/Y in the week ending April 18, a slight slowdown but still keeping month-to-date gains at 6.9%. That's roughly around the same pace as seen the prior 2 months (6.8% in each of Feb and Mar) and suggests that overall retail sales will maintain solid momentum into Q2.  

• The report noted "Some retailers reported weaker year-over-year Easter sales, facing challenging comparisons to last year's pre-Easter shopping week in April. Home improvement and outdoor merchandise sales are increasing as spring begins. Sales of household basics, food, and consumables remain steady. The weather has varied across the country, with some regions experiencing favorable conditions and others facing unseasonal weather. Discount stores have seen higher sales in food and household supplies, supported by ongoing promotions."
• Coming after the morning's official Census Bureau retail sales for March, which handily beat expectations, this was a reminder that while Redbook has portrayed retail activity in a relatively more positive light it has consistently shown solid growth through the early months of 2026 even as the Census series faltered.
• March's 4.8% Y/Y retail Control Group rise was below that of Redbook's 6.8% but was still the strongest in 7 months. All are in nominal terms meaning the inflation-deflated series will have been substantially weaker even excluding gas prices, but either way there is no sign of major slowdown in sales value growth.