News & Insights

The war with Iran continued to drive headlines this week as President Trump extended the ceasefire indefinitely after failing to reach terms with Iran. As of this writing, the Strait of Hormuz remains closed to most commercial traffic with the U.S. continuing its blockade of Iranian ports.

The week began with President Trump announcing a total blockade on all traffic to Iranian ports through the Strait of Hormuz, following a perceived lack of progress on negotiations with Iran. Despite the escalation, markets took it as a sign of progress in negotiations, with the S&P 500 hitting 7,000 for the first time ever on Wednesday

Once again, the week’s economic activity was driven by headlines and continued geopolitical tensions between the U.S., Israel and Iran.