PremiumGoldman's Delta-One Head: Cautiously Optimistic But "Still Uncomfortable Being Long"
As we detailed earlier, Goldman Sachs One-Delta desk-head, Rich Privorotsky, sees an off-ramp taking shape:
...namely the idea that after ~5 weeks of conflict, "President Trump told aides he's willing to end the U.S. military campaign against Iran even if the Strait of Hormuz remains largely closed" (WSJ).
...and as we noted earlier, President Trump followed that up with comments that "Iran has been, essentially, decimated," and telling world oil-buyers: "The hard part is done. Go get your own oil! "
Additionally, Trade Rep Jamieson Greer said that 'US is insulated from any supply chain effect' when asked about the flow of traffic through the Strait.