US-Iran kinetic escalation reignites despite the formal ceasefire, dominating today's outlook alongside accelerating Gaza territorial seizure and a sticky-inflation Fed hold — while AI capital concentration continues with Anthropic's $36B Apollo/Blackstone debt syndication validating frontier AI as structured-credit infrastructure.

The Russia-Ukraine chain is in ESCALATION stage with 'Real War Escalation' dominant (45%, with 'long range strikes increase' at 93% conditional). Base rate for a Ukrainian refinery strike in any random 14-day window of 2025-2026 is already above 0.65 based on observed frequency; with Zelensky's fresh authorization and Skeptic confirmation of recent pattern, I push to 0.78. My military sector Brier is 0.131 (strong), and the military analyst weight (0.15) is the highest in this domain. The geopolitician hawk's 0.75 plus Skeptic's 0.70 anchor — I lift slightly because the Skeptic's downside (transient weather/defense disruption) does not undercut the 14-day base rate. Risk: 'confirmed' standard — satellite or Russian-source acknowledgment needs to occur within window. Pillars: power_dynamics, structural_forces, historical_parallels.