The latest update from the US Central Command:
“US forces have destroyed Islamic Revolutionary Guard Corps command and control facilities, Iranian air defense capabilities, missile and drone launch sites, and military airfields during sustained operations. We will continue to take decisive action against imminent threats posed by the Iranian regime.”
At first read, this should mean that Iran’s threats would be severely incapacitated. However, everyone likes to play up their victories in a time of war. So, we’ll see in time I guess.
The conflict continues to rage on but barring any further major escalation, markets might already be eager to move on. The social media revolution has created such an echo chamber that the world becomes largely desensitised to everything and anything in just about a day or two.
So unless there are real and prolonged economic consequences to deal with, simmering tensions might not be enough to keep market players from being fearful. US futures might be pointing lower but we saw yesterday how quickly Wall Street can turn things around. Elsewhere, WTI crude oil is also only up a little over 2% to $72.62 currently.
This article was written by Justin Low at investinglive.com.
