It’s rare for Iran’s Supreme Leader Mojtaba Khamenei to speak up. He said he wants to end the war, but only if Iran’s conditions are met, and he doesn’t want to keep dragging things out with this stop-and-start fighting. The news sent oil prices plunging, gold rebounding, and Treasury yields lower. The market is also hoping things will calm down soon. But wanting to negotiate is one thing; whether the terms can be agreed on is another. Now we’ll see how Trump responds.