Bob Elliott
· Nonconsensus
· August 05, 2026 at 10:26
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Summary
The available excerpt argues that renewed downward pressure in oil markets — driven largely by hopes for a swift Iran deal — is feeding a broader equity-market rally. Lower oil is being treated as a disinflationary and geopolitical tailwind for risk assets, with energy/oil markets absorbing the negative side of the trade.
•Oil markets have seen renewed downward pressure over the past couple of days.
•That oil weakness has directly 'contributed to the euphoria seen across equity markets.'
•Much of the equity optimism is explicitly tied to hopes that an Iran deal is reached quickly.