Geo Chen
· Fidenza Macro
· April 23, 2026 at 03:54
· ⏱ 5 min read
| Read on Substack ↗
Summary
The author discusses the market's growing impatience with the lack of a US-Iran deal to reopen the Strait of Hormuz. Despite a unilateral ceasefire extension by the US, the breakdown of talks has led to a renewed climb in oil prices and a rise in bond yields.
•Talks between the US and Iran regarding the Strait of Hormuz have broken down over the weekend.
•Iran has reportedly pulled out of the discussions.
•The US unilaterally extended a ceasefire agreement, but this has not calmed markets.
•As a result of the failed talks, oil prices have resumed their climb and bond yields are inching higher.