Trump speech lands with a thud in financial markets
Good morning. Oil prices jumped and currency markets slid back into risk-aversion mode last night when Donald Trump claimed the US-Israeli war against Iran was “nearing completion” but failed to offer a clear timeline and threatened more attacks. In a 19-minute address from the White House, the president said “We are on track to complete all of America’s military objectives shortly, very shortly,” yet “We are going to hit them extremely hard. Over the next two to three weeks, we’re going to bring them back to the Stone Ages, where they belong”. Both global crude oil benchmarks are up more...