Two reasons we are green today:
1. WSJ headline last night said Trump is willing to end the war without re-opening the Strait. 2. Trump post this morning basically “confirmed” this by telling allies to buy oil from the US, not the Strait, essentially making the claim that the Strait is not as important.Now, it’s obviously very important, but Trump can’t leave Iran with the *perception* that they left in order for Iran to feel comfortable to reopen the Strait.He needs to leave with people feeling that the Strait doesn’t matter so that if the US does leave, Iran can tell their people that they forced the US out and now can reopen it but Trump will tell the American people that we left because there was nothing else to do since we destroyed the military and the Iranians are opening it because they need the oil money, not because the US wasn’t able to militarily get them to reopen it which is WHY he is now downplaying the importance of the Strait. The market doesn’t care about anything other than the Strait opening and today, for now, the market feels that maybe there is a better chance of it opening which is why we seem to be green…Until the next headline.What. A. Volatile. Market.Source: amit
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