Iranians Stop UK Yacht…

Again, we’re trying to keep this to a bond-market opinion and all BUT we have to share the following … we’ll explain in a moment. From Bloomy a short while ago:

13:38 *YACHT WITH 5 BRITONS STOPPED IRANIAN WATERS, AP SAYS
13:39 *UK SAYS FIVE BRITISH YACHT MEMBERS HELD IN IRAN
13:39 *UK GOVERNMENT SAYS YACHT CREW NOW IN IRAN, AP SAYS
13:40 *UK SAYS FIVE BRITISH YACHT MEMBERS `SAFE AND WELL’
13:41 *UK SAYS BRITISH YACHT STOPPED BY IRANIAN NAVAL VESSELS
 
ChartGrid
 
Oil (top R) popped along with Treasury market (5s lower L) while the USD and the equity market seem very much unimpressed. WE can’t help but mention this as we are almost living in fear of Art Cashin’s shadow – he keeps on keeping on about one single misstep that might set off short-covering rally in the USD and THAT in and of itself would have dire implications for the US equity markets, which in turn, we’d guess, would have (bullish flattening/steepening – YOU choose one?) implications for even US.
 
Just thinking outloud.
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