“The old world is dying, and the new world struggles to be born: now is the time of monsters.”
-Antonio Gramsci, Italian Philosopher
TL;DR SUMMARY
Trump announced the Iran deal is ‘largely negotiated’ over the weekend. A memorandum of understanding is the first phase, with broader talks in 30-60 days. Hormuz is opening in practice (35 vessels in 24 hours) before the formal announcement, though targeted missile strikes are ongoing and will likely continue for some time.
The obvious trade of sell oil, buy stocks, and buy bonds is crowded and partially priced by Monday morning, at least in overseas’ and futures’ trading. The interesting money is in the second-order effects.
