We’re in quite the relief rally today after President Trump and the Iranian powers that be agreed to a two-week ceasefire to hammer out a more permanent arrangement.
The world waited with bated breath for yesterday’s 8 p.m. deadline set by the White House for Iran to make a deal to fully open the Strait of Hormuz or face the destruction of its civilian infrastructure. Trump posted about the news 90 minutes before the deadline. The world exhaled. As I write this on Wednesday afternoon, the S&P 500 is up 2.5%. Not sure if these gains will hold through the close.
