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It's great to be back from my week of holiday although it is remarkable at how little has changed as we enter the 8th week of this Iranian conflict. Over the weekend there was reports that the Iranian regime had offered a deal that would end the kinetic aspect of the conflict and reopen the Strait, although, if traders reaction could be personified it would be closer to a yelp than a cheer.
Several failed peace negotiations hitherto have drained much of the optimism out of the market and most have simply accepted the war as ongoing noise to be mostly ignored. Indeed, most in the market would be better off focusing on the interest rate decisions inbound later this week, even though it seems likely that none of the three banks will make any changes.
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