That Was a Day……
Apocalypse Postponed
In my last post on Monday I gave 10% odds that a deal with Iran was reached by the time that Trump’s deadline expired yesterday evening, and no deal was reached, but Trump nonetheless said that the Iran’s existing ten point point proposal to end the war was a sufficient basis to start to negotiate a deal over the next two weeks, during which time there would be a ceasefire. US equity markets have rallied and oil prices have dropped hard on that news.
Iran’s ten point plan is as follows:
(more…)Big Swinging Sandisk
Considering what’s happening today, it’s easy to forget that last quarter was a huge dud for stocks. Here is a lovely diagram showing the clustering, with most stocks shoved to the left of the 0% mark.
One Gap of Note
As I’ve been judiciously tiptoeing into new positions, one of them is EFA, based on this very clean price gap. I’m amazed that we’re back at these levels, but it makes for a very slick risk/reward.
