A ceasefire was announced while Pope Leo XIV condemned U.S. President Donald Trump’s threats to strike Iranian civilian infrastructure. The ceasefire reduces immediate military tail-risk, but the public rebuke and inflammatory rhetoric maintain political uncertainty that could influence risk sentiment if escalated; limited near-term market impact is expected.
A ceasefire was announced while Pope Leo XIV condemned U.S. President Donald Trump’s threats to strike Iranian civilian infrastructure. The ceasefire reduces immediate military tail-risk, but the public rebuke and inflammatory rhetoric maintain political uncertainty that could influence risk sentiment if escalated; limited near-term market impact is expected.
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