A robust market reaction to a quite fragile "cease-fire" in Iran.

Today, a look at the fragile "cease-fire" between the US and Iran and whether it is mostly a US climbdown from its maximalist threats than any remarkable change of attitude from the Iranian side. Regardless, global markets have reacted in dramatic fashion. We walk through the reaction across asset classes as significant near term oil- and gas supply uncertainties remain. This and much more on today's pod, which features Saxo Head of Commodity Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy. About twice per week, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack. Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at [email protected] for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.