US-Iran ceasefire deal lifts global markets — buy the relief rally before everyone else does
The US and Iran have tentatively agreed to extend their ceasefire by 60 days, raising hopes that the three-month conflict is winding down. Global stock markets are rallying on the news, and one of Wall Street's top strategists says the most likely surprise is that stocks keep climbing.
Idea
A tentative US-Iran ceasefire extension removes a major source of uncertainty that has been dragging on markets for three months. Global stocks are already rallying in response, especially in Asia where export-driven economies benefit most from stable oil prices and trade routes. Citadel Securities' Scott Rubner — one of the most closely watched strategists on Wall Street — argues that the "pain trade" (the move that would hurt the most investors) is for stocks to keep going up, because many traders are still underinvested after the war scare. That means if the truce holds, money sitting on the sidelines will likely rush back in, pushing prices even higher.