AFBytes Quarter Rundown — Thursday, June 11, 7:00 AM ET

Welcome to AFBytes. Here's a look at the top stories making headlines today. According to AP News, a lapse in the FISA law that permits foreign intelligence gathering is becoming more likely. President Donald Trump is resisting bipartisan calls to advance a nominee for director of national intelligence. AFBytes notes that a lapse in FISA authorities could limit U.S. intelligence collection capabilities and affect national security operations. AP News reports that President Donald Trump expressed a positive view of inflation following a report showing prices at their highest level in three years. This contrasts with typical concerns over rising costs. AFBytes notes that presidential statements on inflation can influence consumer expectations and market sentiment around future price trends and monetary policy. ECNS reports that Donald Trump stated that U.S. military assets have provided covert escort services to over 200 commercial ships transiting the Strait of Hormuz. AFBytes notes that protection of shipping lanes in the Strait of Hormuz directly influences global energy prices and U.S. trade costs. The Rio Times Online reports that Donald Trump announced he will not renew the USMCA trade pact with Mexico and Canada ahead of the July deadline. AFBytes notes that uncertain renewal of USMCA could disrupt supply chains and raise costs for US manufacturers and consumers reliant on North American trade. TASS reports that Iran announced the closure of the Strait of Hormuz. Brent crude prices on the ICE exchange rose 1.9 percent in immediate reaction to the development. AFBytes notes that closure of the strait would immediately threaten global oil supply routes, raising energy costs for U.S. drivers, manufacturers, and utilities. That's the news for today. Thanks for watching. Stay with us at AFBytes for what's next.