Trump Says He Reversed Decision to Strike Iran an Hour Before Giving the Order

Key Events This Busy Week: FOMC, PCE, GDP, War On/War Off... And Earnings Galore Before we look at the week ahead, a quick look at the main event that defines the market this Monday morning: after 13 consecutive nights of US strikes aimed at degrading Iran’s ability to threaten commercial shipping, Washington has refrained from further attacks since late Friday, while Tehran has publicly stated that it has also suspended retaliatory operations. The pause falls short of a formal ceasefire, but both sides are presenting it as an opportunity...

US Looks To Revive 'Prize Courts' For Iranian Oil Seizures The US government is exploring an unusual legal route for dealing with Iranian oil and ships captured as part of its blockade: bringing back a wartime maritime system that has barely been used for generations, according to Bloomberg. The Justice Department, working with the Pentagon, is preparing to use prize law, which historically allowed courts to decide whether vessels and cargo captured during armed conflict could legally become property of the United States. The mechanism was once commonplace in naval warfare...

The Trump administration is preparing a $2.8 billion arms sale to Israel that includes 40,000 2,000-pound bombs and 20,000 penetrator warheads, with the weapons to be purchased using US military aid. Tucker Carlson first reported the transfer of 40,000 2,000-pound bombs to Israel. “According to an informed federal official, in the coming months the Trump […]