S&P 500 6,583 — · EUR/USD 1.15 ↓ · Brent $109 ↑ · 10Y UST 4.31% ↑ · Gold $4,703 ↑ · VIX 23.87 ↑
The F-15 shoot-down and $141 spot barrel tell the same story: five weeks in, the war’s costs are compounding faster than its objectives, and the countries paying the highest price had no say in starting it.
1 Tehran’s Airspace Isn’t Empty
DEFENCE
Iran shot down a…