The Universal Owner — The Risk-Free Rate Reset (Weekly, June 28, 2026)

This week: a 60-day U.S.-Iran waiver reopened the Strait of Hormuz on paper, and why "open" is not "insurable." Plus the risk-free rate reset (Japan's 30-year JGB at 3.88%, a stickier Fed) and the curve's two faces: India's sovereign bond market and private credit's $500bn AI stress test. Full reporting in our Newsroom: the-worlds-most-important-60-day-trade, india-just-made-its-bond-market-harder-to-ignore, private-credits-500-billion-ai-stress-test at universalassetowners.com. Editorial analysis, not investment advice.