UBS On-Air: Paul Donovan Daily Audio 'Accepting the totally unacceptable'

Last week’s Axios newswire report that Iran and the US were “moving towards” a deal have (again) proved to be less than accurate. US President Trump declared Iran’s response to US peace overtures to be “TOTALLY UNACCEPTABLE”. The basic problem for markets remains—reopening the Strait of Hormuz depends on Iran, there is little information about the Iranian government’s position, and information from other sources (including the US) cannot be considered reliable.