Global political and economic instability intensifies as Spain’s Prime Minister calls a snap election following housing protests, while Yemen’s Saudi-backed government launches a major offensive to reclaim territory from Houthi rebels. In the financial sector, European debt markets face significant pressure, with French risk spreads reaching 2011 levels and the euro hitting an 18-month low against the dollar. The US Supreme Court opens a new term focused on the limits of executive power, particularly regarding immigration and firearm regulations, after ruling in favor of Donald Trump’s policies 80% of the time during his tenure. As Nobel Prize week commences, the Peace Prize selection process highlights international tensions; while Donald Trump remains a nominated candidate, his involvement in conflicts and trade wars makes a win unlikely. Potential alternative laureates include the International Court of Justice or Francesca Albanese, choices that would emphasize international law and the sovereignty of nation-states.
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