Let’s make a deal
• US/Iran ceasefire. News of a ceasefire has boosted risk sentiment. Equity futures higher, oil lower, USD weaker. AUD & NZD at multi-week highs.• Lingering issues. Developments are a positive. But economic aftershocks of events still in the pipeline. RBNZ meets today. No change in rates expected. Global Trends Markets have been on edge to see if President Trump crystallizes his ramped-up threats of strikes against infrastructure sites across Iran (or the “whole civilization” as he posted overnight) or if this was another TACO event (i.e. Trump Always Chickens Out). The US had been turning up its verbal pressure, and...