IRAN SUSPENDS U.S. PEACE TALKS LESS THAN 24 HOURS AFTER SIGNING DEAL
Iran has reportedly suspended the entire 60-day negotiation process with the U.S., citing Israeli strikes on Lebanon, according to Fars and Al-Mayadeen. Vice President JD Vance has reportedly postponed his planned trip to Switzerland, where U.S.-Iran talks were set to begin Friday, per Axios. Both delegations were preparing to depart before the talks were called off. Note that is barely moving Source: Coin Bureau
E4 nations including the UK, France, Germany and Italy said on Sunday the countries were prepared to lift sanctions on Iran
in response to steps on its nuclear program after the US and Iran reached a deal to end their war. Source: Al Jazeera Breaking News @AJENews
Trump: "The deal is complete (...) Let the oil flow!" Crude oil $WTI is plummeting on Hyperliquid in pre-market open!
After 107 days of war, the US and Iran have now officially reached a peace deal, with the signing set for June 19th in Switzerland.
Pakistan’s prime minister said the US and Iran have finalised a deal to extend a ceasefire and reopen the Strait of Hormuz, with the warring parties to officially sign the agreement on Friday.
Shehbaz Sharif said both sides have declared the immediate and permanent termination of military operations on all fronts, adding that the signing ceremony would take place in Switzerland. “Following intensive talks, we are pleased to announce that the Peace Deal between the United States of America and Islamic Republic of Iran has been REACHED,” he said on X. “With the agreement now in place, mediators will facilitate a series of meetings this week. These pre-implementation discussions will lay the foundation for the technical talks and the official signing ceremony.” Source: FT
The Iran-US peace deal has immediate effects on markets:
- Oil is tumbling, as the Hormuz Risk Premium unwinds. Oil fell to its lowest level since March - Nikkei 225 surges and hit 69,000 for the 1st time ever - Nasdaq futures are up +1.8% - Precious metals and cryptos soar - US 10 year yield drops 5bps to 4.42%
Yesterday was a "TACO-Thursday", with Trump's rhetoric intraday-flipping from 'blowing the sh*t out of Iran' to a 'no strikes
Deal pretty much wrapped up' sparking a plunge in oil (ignoring denials), spike in stocks, and big drop in yields (shrugging off hot headline PPI and ECB rate-hikes). CNN reports that this is the 38th time that President Trump has declared a peace deal is imminent... Source: zerohedge
PRESIDENT TRUMP JUST POSTED THIS: "The United States will be hitting Iran ... VERY HARD TONIGHT"
"At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets, much like we have with Venezuela" Markets do not seem to care anymore...
The U.S. is proposing new tariffs of at least 10% on imports from 60 trading partners after a forced-labor-related trade investigation.
Canada, Mexico, the EU, Taiwan, and the UK would face a 10% tariff. China, India, Japan, South Korea, Brazil, Switzerland, and other major economies would face a 12.5% tariff. The tariffs are not immediate. Written comments are due July 6, with public hearings starting July 7, so the final rules could still change before implementation. Source: Wall St Engine
