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The Strait of Hormuz is clearly "completely open," so cut the risk premium for shipping and energy supply chains first.
> Iran agreed to suspend its entire nuclear program — indefinitely..
> Iran agreed to never close the Strait of Hormuz again..
> zero dollars changed hands.. no frozen funds.. no pallets of cash..
> the US naval blockade on Iran stays up until the final deal is signed..
> Trump publicly ordered Israel to stop bombing Lebanon — used the word PROHIBITED in all caps..
> Netanyahu went on live TV and admitted he was acting on a US request..
> Defense Minister Katz got overruled within hours after saying Lebanon ops "have not yet been completed"..
> a 10-day Israel-Lebanon ceasefire took effect overnight.. displaced Lebanese civilians started walking back to their villages..
> oil dropped 12% in minutes.. global equities surged..
> Iran's Foreign Minister declared the Strait of Hormuz "completely open" — first time since March 27..
all of this.. one Friday..
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