Good afternoon: Today's PM is 546 words, a 2 minute read.
Situational awareness: The S&P 500 closed at a record high, while the Dow rose 250 points and the Nasdaq ended 0.80% higher. Bond yields hit multi-year lows as more investors piled into U.S. treasuries.
The Trump administration's "maximum pressure" campaign on Iran may work in the end, but if the goal is a less aggressive Islamic Republic, not so much right now.
The big picture: The administration argues inflicting economic pain on Iran will restrict its regional aggression, and Tehran would have sparked a nuclear crisis down the road anyways.
Between the lines: Good luck figuring out what's coming next from the Trump administration on Iran:
The bottom line: The "two at-odds comments from the president [allow] different people to hear what they want," the N.Y. Times' Maggie Haberman tweeted.
A Sudanese demonstrator recites a poem about revolution last night in Khartoum.
"The Washington Nationals will extend their protective netting during the All-Star break after recent injuries in baseball increased the focus on fan safety," the AP reports.
The big picture: "At the urging of Major League Baseball, all 30 teams expanded their protective netting to at least the far ends of the dugouts at the start of the 2018 season. Several fans were injured by foul balls in 2017."