Trump Delays Iran Strikes, IEA’s Warning

Good morning. As we wake up to the latest headlines on the war in Iran, this time it’s the return of the TACO trade (Trump Always Chickens Out). President Donald Trump said he would postpone his threats of an attack on Iranian energy infrastructure for five days after what he called “productive conversations” — discussions that Iran has denied. Still, markets overnight seem to be taking the news well, and we can expect a similar reaction here in Australia.

While the latest developments are positive, there’s no shortage of warnings about the impact of the war. IEA’s executive director said Monday that the severe damage to several energy assets could extend global supply chain disruptions, while Australia’s financial regulators emphasized vigilance. - Carmeli Argana, Australian stocks reporter