Markets Just Showed You the Price of War With Iran—By Pricing in the Peace
When bond markets move on a foreign-policy decision, they're telling you how much risk traders thought was on the table. The drop in Treasury yields and the dollar after Trump called off strikes on Iran is the financial equivalent of a sigh of relief—and it reveals how close global markets believed we came to a shooting war.
Bottom Line
The story isn't that markets rallied on peace—it's that they revealed how much fear of an Iran conflict had been baking in, and how tightly a single military decision is now coupled to the government's own cost of borrowing. The price moves are a thermometer, not the disease.
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