AAAAND HE LIED
BREAKING: Iran issues a statement DENYING President Trump’s post which claimed the US and Iran have had “productive conversations” to end the Iran War:
Iran says:
1. “There has been no indirect or direct contact with President Trump”
2. President Trump is trying to “buy time” in the Iran War
3. President Trump “withdrew” from power plant strikes after Iran’s “firm warning”
4. President Trump’s comments are “psychological warfare”
5. “Hormuz will not return to pre-war conditions as long as psychological warfare continues”
Iran has entirely denied all of President Trump’s claims.
Oil Plunges, Stocks Spike As Trump “Postpones” Military Strikes On Iran After “Productive” Talks; Tehran Denies Contact
Update (0745ET): Well that didn’t take long – and consider the source – but Iran’s state news agency rejects Trump’s claim of ‘constructive conversations’
“There is no direct contact with Trump, not even through intermediaries,” Fars News reports, citing a source.
“Trump backed off after hearing that our targets would be all power plants in West Asia.”
Oil is rebounding and stocks retreating modestly on the news…
Who’s lying?
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Market sentiment has flipped dramatically optimistic this morning following a post by President Trump on his TruthSocial feed that says due to “very good and productive conversations” on a “total resolution” of hostilities in the Middle East, the US will postpone “any and all military strikes” against Iran’s energy infrastructure for five days…
The front-running of his self-imposed ultimatum deadline (around 7pmET tonight) has caught market participants off guard.
Iran hasn’t confirmed the talks but, if they do, this is the first time we’re seeing any kind of opening for an off-ramp to end the war.
Iran has repeatedly said it wasn’t looking to sit down with the US.
There has been no comment from Israeli officials.
The reaction to Trump’s statement – as you might expect – is a crash lower in crude…
…though still well above pre-war levels (as traders are still pricing in a prolonged hit from higher energy prices, even if there is relief following the latest headlines)…
…and spike higher in stocks…
…still below pre-war levels)…
What did the oil producers know?
Bonds and bullion are bid…
Rate-hike expectations have tumbled…
TACOs came early this week… or is it Mission Accomplished?
Iranian officials haven’t yet commented on Trump’s statement, but the headline banner on state TV sets the tone: “US President Retreats After Iran’s Decisive Threats.”
Billionaire hedge fund manager, Dan Loeb had some thoughts…
How long before Tehran officially denies contact?
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