Iran, Hormuz, Oil and Opportunity

The markets are oddly quiet given the closure over the weekend of the the Strait of Hormuz.

Crude, which fell roughly 8 to 10 percent last week on peace hopes, ticked back above $78 this morning... not significant.

Perhaps we are learning to deal with and ignore the on again, off again crises in the Middle East.

I think traders are more concerned about the Thursday May PCE report...

..the Fed's preferred inflation gauge.

Core PCE ran 3.3 percent through April, and Chair Warsh, in his first meeting last week, left no doubt that price stability is the priority.

Nine of eighteen policymakers now pencil in at least one more hike this year. The ten-year yield holds at 4.49 percent.

-Greg

Watch this ASAP if you want the story behind the story.

This could unleash a new period of prosperity in the US and a handful of companies stand to benefit.

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Iran, Hormuz, Oil and Opportunity

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