[Flash Update] US–Iran Ceasefire — Relief Rally, But Not the End

A quick flash update following the latest headlines. By now, you would have seen that the US and Iran have agreed to a two-week ceasefire. Markets reacted immediately — oil prices pulled back sharply, and risk assets like stocks, crypto, and even gold are seeing a relief bounce. This is broadly in line with what I predicted earlier — Trump simply does not have the leverage to continue the war. But let me be very clear — this is not the end of the story. My take (Ivan’s Playbook) We need to...