Markets rally on peace hopes
A wave of cautious optimism is washing over financial markets after the United States reportedly offered Iran a 15-point peace plan, reinforcing the belief that Washington is looking for an exit from the conflict. Details of the proposal are unclear, but investors are turning more hopeful* even as the Strait of Hormuz remains effectively closed, attacks continue on both sides, and more American troops are deployed to the theatre, Treasury yields are edging lower, equity futures are setting up for a gain at the open, and the dollar is retreating against a basket of its major rivals. The pound is...