Image Source: Pixabay

Trump says the “12-Day War” is over.

Trump’s Truth Social Post

Truth Social: CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED! Officially, Iran will start the CEASEFIRE and, upon the 12th Hour, Israel will start the CEASEFIRE and, upon the 24th Hour, an Official END to THE 12 DAY WAR will be saluted by the World. During each CEASEFIRE, the other side will remain PEACEFUL and RESPECTFUL. On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn’t, and never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and GOD BLESS THE WORLD!

DONALD J. TRUMP,
PRESIDENT OF THE UNITED STATES OF AMERICA

The cease-fire comes after a feeble attack on a US military base in Qatar in which Iran told the US and Qatar was coming.

Iran’s Last Feeble Move

Truth Social: Iran has officially responded to our Obliteration of their Nuclear Facilities with a very weak response, which we expected, and have very effectively countered. There have been 14 missiles fired — 13 were knocked down, and 1 was “set free,” because it was headed in a nonthreatening direction. I am pleased to report that NO Americans were harmed, and hardly any damage was done. Most importantly, they’ve gotten it all out of their “system,” and there will, hopefully, be no further HATE. I want to thank Iran for giving us early notice, which made it possible for no lives to be lost, and nobody to be injured. Perhaps Iran can now proceed to Peace and Harmony in the Region, and I will enthusiastically encourage Israel to do the same. Thank you for your attention to this matter!

DONALD J. TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA

It wasn’t much of a war.

Without a bomb, Iran had no cards, as I repeatedly stated. It’s why Iran wanted a bomb.

As of 8:30 PM Eastern, the news outlets have no more information than what is in Trump’s social media posts above.

Short-Lived Oil Spike

Oil spiked much more than reports expected and has since crashed.

I never thought a spike would last or go as high as derivative contracts expected, but nor did I expect a collapse today.

Then again, how many expected a cease-fire today?

Regardless, Iran had no cards and was guaranteed to fold sooner or later.

We can now return to our regular tariff, recession, and other economic post discussion with one final observation for the day: The long bond is still not acting well. It’s at 4.89 percent up from 4.84 percent earlier today.

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