The Afternoon Brief: Myanmar's junta allows first contact with Suu Kyi in 2.5 years

Myanmar's military government permitted an International Committee of the Red Cross delegation to meet Aung San Suu Kyi this week, marking her first confirmed outside contact in two and a half years. The 81-year-old ousted democracy leader, under house arrest since the 2021 coup that deposed her government, met with ICRC representatives led by Arnaud de Baecque. Photographs released by the junta show her appearing relaxed and well. Her son said the visit may signal a first step toward her release, but the military has not disclosed what prompted the meeting or what it learned.

Meanwhile, Washington and Tehran remain in fundamental disagreement over whether any negotiations exist. President Trump announced Sunday that US-Iran talks would begin Monday afternoon after calling off what he described as massive military strikes, citing agreement on "perimeters of a deal" involving the Strait of Hormuz and Iranian denuclearization. Iran's Foreign Ministry rejected the claim on Monday, with spokesperson Esmaeil Baghaei stating flatly: "We currently do not have negotiations with America." The contradiction leaves the announced pause in strikes without a mutually acknowledged foundation.

On the economic front, JPMorgan Chase announced a $750 billion housing investment through 2035, including financing for 1 million affordable housing units and homebuying assistance for 500,000 people. The commitment represents a 40% increase in the bank's housing capital deployment compared to the prior decade. This comes as median home prices have hit a record $440,660. In labor news, WestJet and its flight attendant union CUPE 8125 reached a tentative agreement ending a strike that had cancelled 495 flights and affected 250,000 travelers. The core dispute centered on compensation for ground-based work performed before flights depart; the deal still requires union ratification.

Currency markets saw their first coordinated US-Japan intervention since 2011 on Friday, when the Treasury and Japan's Ministry of Finance jointly sold dollars and bought yen to halt the yen's slide to a 40-year low. Both countries signaled readiness for more interventions if yen weakness resumes. In the Pacific Northwest, authorities arrested Aaron Farinacci, 37, on suspicion of first-degree arson in connection with the Old Trails Fire near Spokane, which has destroyed more than 700 buildings and displaced 67,000 residents. Farinacci has a prior manslaughter conviction; authorities found waterproof matches and a butane lighter on him when he was detained.

Europe faces cascading climate emergencies from a severe heat wave driving historic low water levels in major rivers. Hungary's Paks Nuclear Power Plant came within millimeters of forced shutdown as the Danube dropped; Romania closed two reactors due to low water and conducted a controlled explosion to redirect cooling water to its sole operational plant. Wildfires have killed firefighters in Greece. Finally, possible cyber intrusions targeting water and wastewater utilities have been reported across at least a dozen US states, with Iran as the prime suspect according to sources, though official confirmation is pending. No widespread service disruptions have been reported so far.