Less concerned about Trump's rhetoric, more about market supply: Jim Cramer

Summary

Jim Cramer downplays the immediate market impact of Trump's Iran ceasefire remarks, noting that such rhetoric typically just raises oil prices. Instead, his primary concern is the massive supply of new equity and bond issuance that is absorbing sidelined capital, which he warns could eventually hurt the bull market if not reined in, drawing parallels to the dot-com era excess supply.

• Market sold off after Trump threatened to tear up Iran ceasefire, but Cramer sees this as a familiar pattern that mainly boosts oil.
• He is far more worried about the flood of new equity and bond supply absorbing sidelined capital.
• Excess supply has historically killed bull markets, and Cramer fears it is becoming too much currently.
• He warns that if equilibrium is breached, a sudden irreversible glut could occur, similar to the dot-com collapse.
• Cramer clarifies that we are not at that point yet and this is not an immediate 'get out' call.
• The rotation into interest-rate-sensitive consumer stocks was undone by the day's geopolitical news.