It Ain't Over Till It's Over... and Trump Says the Ceasefire is Over
No giving peace a chance in the U.S.-Iran file; verbal war of the worlds takes center stage at the NATO summit (there is rain in Spain)
Key Takeaways
• Iran Flare-Up Rattles Markets: The renewed flare-up of hostilities between the U.S. and Iran is at play behind today’s extension of the risk-off trade. The interim peace deal looks to be in tatters. All the while, the NATO summit in Ankara has been rife with rancor. Oil prices are rebounding, equities are selling off around the globe, and bond yields are on the rise — compounded by the RBNZ policy tightening today and the threat to do more.
