Tell Me Lies, Tell Me Sweet Little Lies

Investors wake up to a chaotic weekend in the U.S.-Iran conflict

Key Takeaways

• Hormuz Standoff Renewed: The big news over the weekend was the renewed standoff at the Strait of Hormuz (gunfire and the U.S. seizing an Iranian cargo ship), with Iran reclaiming “strict” control and threatening to keep it closed until the President ends the U.S. naval blockade (all the while, the U.S. military is using sea drones to clear the mines from Hormuz). Suddenly, last week’s hopes for a quick end to the war have been dashed — though President Trump has retaliated by saying his response will be to stay at the negotiating table. A clear message that he wants to back away as the political heat at home intensifies.