Back to Square One: Setbacks in the Peace Talks

Peace talks between the US and Iran have stalled, keeping the Strait of Hormuz closed and oil prices elevated, even as US equity markets hit record highs. Investors are now looking toward the upcoming Trump-Xi summit in Beijing for potential de-escalation signals.

Key Takeaways

• 1.Negotiations between the US and Iran have hit a major setback as President Trump dismissed Iran's counter-proposal, leaving the Strait of Hormuz closed.
• 2.US stock markets reached record highs supported by resilient growth and strong corporate earnings, with 82% of S&P 500 companies exceeding expectations.
• 3.The Riksbank is expected to maintain a cautious strategy in light of geopolitical unpredictability, with minutes from the May 6 meeting due on Wednesday.

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