"I'd Be Fading This Rally" - Top Goldman Trader Warns 'Larger Issues Remain' Than Iran

"Markets create outcomes, not the other way around," is how Goldman Sachs One-Delta desk-head, Rich Privorotsky, frames the actions of the last 24-36 hours, as a fairly forceful jawbone from the White House last night sent global futures sharply higher and oil futures sharply lower.

The takeaway is that the political pressure and domestic appetite simply does not tolerate a drawn out conflict in the Middle East.