Logic, Logistics, And At Least Another 10 Days...
By Michael Every of Rabobank
Thursday was a rocky day in markets ahead of today’s deadline for the US to shift from bombing Iran’s nuclear, missile, drone, military-industrial, and regime sites to destroying its electricity grid, potentially taking out its power generation for a generation, and unleashing an Iranian response against the broader region’s power, water, and energy infrastructure.
Given that backdrop, some TACO the view it was logical Trump subsequently extended the deadline to 8PM EST on Monday 6 April, because “talks are ongoing, and despite erroneous statements to the contrary from the Fake News Media, and others, they are going very well.” Is this true, is Trump pulling a head-fake ahead of an impending strike, or did he just ramp the markets looking for an off-ramp?
Supporting a ‘deal ahead’ view, Israel is shifting from hitting regime to military-industrial targets and is back to 24-hour attack runs despite the incredible strain it puts on its pilots and fighter jets. Yet there are other logics derived from logistics.
The official Iranian position is that the US proposal to end the war is “one-sided and ...
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