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Iran and the U.S. are now holding talks in Islamabad, although Trump stubbornly claims it will be clear within 24 hours, but the Strait of Hormuz is still blocked, and the White House itself admits it’s difficult to reopen in the short term. Plus, Israel's airstrikes in Lebanon have not eased risk aversion at all.
Summary: The good news has been fully priced in, and the main players are taking the opportunity of "negotiation expectations" to offload their holdings.