Summary

• A newly extended U.S.–Iran ceasefire and the reopening of the Strait of Hormuz are fueling cautious speculation that the conflict may be entering its final phase.
• The news will likely give financial markets a boost in the near term, assuming the agreement that the U.S. and Iran announced on Sunday holds.
• Markets will be watching President Trump’s comments — and the reactions — at the G7 summit that starts today in France.

A newly extended U.S.–Iran ceasefire and the reopening of the Strait of Hormuz are fueling cautious speculation that the conflict may be entering its final phase. The news will likely give financial markets a boost in