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 reaction - as you might expect - is a crash lower in crude...

...though still well above pre-war levels...

...and spike higher in stocks...

...still below pre-war levels)...

What did the oil producers know?

Bonds and bullion are bid...

TACOs came early this week... or is it Mission Accomplished?

How long before Tehran denies contact?