S&P 500 ▼ 7,408.30 (−1.67%) · Brent ▲ $96.78 (+9.85%) · Gold ▲ $4,067.60 (+1.37%) · VIX ▲ 18.7 (+11.78%) · UST 10Y ▲ 4.70% (+2.93%)
Five months into the US-Iran war, three improvisations kept the economic fallout containable: Saudi crude shipped west when Hormuz closed, tariffs were framed as short-term pressure, and Pentagon spending was routed through …