Defense Secretary Pete Hegseth’s continued leadership of Pentagon operations, including recent congressional testimony on the 2027 defense budget and Iran ceasefire negotiations, underpins trader consensus that he will remain in office through May 31. His active engagement in appropriations hearings and military strategy discussions with the Joint Chiefs has reinforced stability expectations amid the Trump administration’s ongoing foreign policy priorities. With only two weeks left in the resolution window, no announced resignation, confirmation challenges, or executive removal signals have emerged to shift positioning. Potential late developments that could still alter the outcome include sudden health events, unforeseen scandals, or abrupt presidential directives, though none appear imminent based on current institutional activity.