No Peace.
Reports predicting an imminent US ground invasion of Iran intensified over the weekend, triggering an apocalyptic response from the Iranians. The Houthis in Yemen joined the ever-expanding conflict, likely at the behest of Iran, complicating the increasingly chaotic picture further.
Trump ramped up his attempts to gaslight markets with a flurry of detail-free promises of an imminent deal one minute then wild threats of hellfire the next but, given a complete lack of anything credible to digest, Wall Street just isn’t listening any more.
For most of Monday US stocks did a whole lot of nothing…
The skinny
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