Limbo.
The cozy feeling of optimism that had carried stock markets to new all-time highs the previous week began to unravel over the weekend. Within hours of Trump boasting that "Iran has agreed to never again close the Strait of Hormuz”, Iran again closed the Strait of Hormuz, in response to the US refusal to lift its blockade.
The oil price jumped but stocks remained steady in Asia and Europe on Monday. The previously-buoyant mood on Wall Street soured as Trump assured us all that he was not going to extend the ceasefire. Iran cast doubt on its attendance at proposed negotiations in Pakistan…
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