Morning Blast - 7th May: Iran has a week, Labour has a problem

Iran has a week. That is Trump's own timeline for a deal framework. He is flying to Beijing to meet President Xi in seven days and wants this wrapped up before he boards Air Force One. Both sides are now entering the domestic sales phase. The punchy rhetoric from Tehran and Washington is aimed at the evening news in each country, not at each other. Ryan and Michael on why that distinction matters right now. Markets at all-time highs. Bears still calling it a bear market rally. Why the pain trade is still higher and why the disbelievers are running out of road. Local election day in the UK. Labour Implosion Day. The real risk for sterling is not tonight. It is Monday morning.