S&P 500 6,740 ↑ · EUR/USD 1.10 ↑ · Brent $93 ↓ · 10Y UST 4.28% ↓ · Gold $4,737 ↑ · VIX 24 ↓
Everyone claims the two-week ceasefire as victory. Iran’s 10-point proposal demands Hormuz sovereignty, sanctions relief, and US troop withdrawal – terms that, accepted wholesale, amount to American capitulation. Tehran fired missiles at Israel ten minutes after t…