"Just two weeks ago, the president declared the war with Iran to be “very complete, pretty much”, claiming that Iran had “no navy, no communications, they’ve got no air force. Their missiles are down to a scatter.” Risk assets rose sharply and oil fell then, too. And every syllable out of the president’s mouth turned out to be nonsense. A day later stocks resumed their decline, oil its rise and bond yields their ascent."
FT.com
FT.com
