Iran Turned Its Hormuz Toll Into Bitcoin Insurance
Iran is trying to turn control of Hormuz into an insurance product, and the market should read the receipt before cheering de-escalation.
Economy
Warsh's First Fed Week Starts On A 98 Percent No-Cut Board
Warsh begins with a prediction market that says almost no cut, which is a tighter first memo than any biography.
Oil Rose After Iran Talks, And The Strait Still Has No Fix
Oil reversed higher after a harder Iran-talks read, while the earlier waiver talk still does not reopen the Strait.
Iraq Put A Barrel Count On The Hormuz Shock
Iraq's oil minister turned the Strait crisis from a price chart into a throughput number.
The Bond Market Spoiled Warsh's Honeymoon Before He Spoke
Warsh inherited a 30-year yield warning before he had a chance to offer a Fed story.
Iran's Stock Market Reopening Turns War Damage Into Disclosure
Tehran's exchange reopening is a test of how much war damage companies may admit in public.
China-Linked Ships Got the Corridor Before the Rulebook
AIS tracks show China-linked vessels using Iran's safe corridor before anyone has published a real rulebook.