This is the kind of tape that tells you nobody believes the surface narrative. If a ceasefire headline were truly de-risking the world, you would not see bonds, gold, and bitcoin bid alongside stocks. That is not a clean risk-on move. That is capital hedging in every direction because nobody trusts the durability of the “all clear.”
Sadly, I think the saga in the middle east will continue to play out for more than the next two weeks. For the lives of everyone involved, I pray that I am wrong.