This is a fast gut-check on how this week examined the framework: Sunday’s cheat sheet leaned towards a “impasse holds, greenback consolidates” base case (45%), with a fresh-escalation risk-off state of affairs (35%) ready if the UAE drone strike drew a navy response. Tuesday’s replace assigned 45% to hawkish FOMC minutes plus continued escalation, and a tiny 10% to a ceasefire sign arriving earlier than Friday.
Then Wednesday occurred. President Trump informed reporters the U.S. was within the “remaining phases” of a cope with Iran. Oil fell away from bed. Equities ripped greater. By Thursday afternoon, headlines reported a remaining draft settlement had been reached by way of Pakistani mediation. The ten% state of affairs was instantly the dominant story.
