Trump Tells Iran “F*ckin’ Strait or Hell” as Markets Tire of Deadline Déjà Vu

Key Takeaways1. US equities extended their winning streak to four sessions: S&P 500 +0.45% to 6,612.02, Nasdaq Composite +0.54% to 21,996.34, Dow Jones +0.36% to 46,669.88, MSCI World +0.3%.2. Iran formally rejected a 45-day ceasefire proposal brokered by Pakistan, issuing a 10-condition counter-demand; Trump’s Tuesday 8 p.m. EDT deadline for Hormuz reopening remains “final.”3. WTI crude rose 0.7% to $112.31/bbl — its highest close since June 2022 — while Brent crude settled above $109/bbl; gold fell 0.5% to $4,655.04/oz.4. US 10-year Treasury yield held at 4.34%; the Bloomberg Dollar Index slipped 0.1%; AUD and GBP were the strongest G10 FX performers overnight.5. Blue Owl Capital shares hit a record low of $8.45, capping eight straight months of losses as BDC redemption pressures intensify across the $1.8 trillion private credit market.6. ASX 200 futures point to a flat open at 8,614 (+5 pts, +0.05%); the AUD outperformed G10 peers overnight; S&P Global March PMI Composite due at 9am AEST.