Tim Farrar's last post: "RocketLab flips the table…" (June 29). No new analysis on 2 GHz MSS / COM(2026)311, D2D spectrum competition, Iridium/Aireon/Rocket Lab post-close, or Hughes August 1 maturity. Silence is now notable given four major events since June 29: Aireon close (Jul 2), DISH DBS Chapter 11 (Jun 30), Iridium board retention bonuses (Jul 6), and Akhavan resignation (Jul 6). Farrar is a primary signal on regulatory strategy; when he goes quiet around a credit event, it often precedes a concentrated post. Monitor this week.

SpaceX filed a supplement to its NGSO MSS authorization request (proceeding 25-340) on June 25: "SpaceX MSS Ownership and Testing Update (6-25-26).pdf" via HWG LLP (David Goldman). "Ownership and Testing" language in the document title suggests SpaceX is responding to FCC staff questions about (a) ownership/control structure for the MSS application and (b) technical testing results for its 2 GHz D2D satellite capability. Proceeding 25-340 is the direct COM(2026)311-adjacent US filing. If the testing update demonstrates compliant 2 GHz service, FCC grant timeline compresses. NEAR-EXISTENTIAL: would validate SpaceX's 2 GHz MSS capability before the EC finalizes COM(2026)311 commercial block assignments. Manual read of the filing PDF required.

Four ICEYE SAR satellites launched July 7 on Transporter-17 (Falcon 9, VSFB SLC4E, 2026-156). Combined with ICEYE's existing constellation, this is the largest single ICEYE rideshare batch in 2026. ICEYE valuation/EO-adjacency thread: if ICEYE raises or is acquired at a premium following this operational expansion, it sets a comps reference for SES's potential entry into space-data adjacency. Also on manifest: NRL SPEAR-1A/B/C (U.S. Navy Research Lab experimental payloads — function not publicly disclosed). ---