Trump says the terms of the Iran deal that leaked out are fake. Upset about drone attacks
The Iran peace trade is fading today after Trump wrote:
The terms that Iran leaked out to the Fake News have NOTHING to do with
the terms that were agreed to, in writing. What they said, including
their weak and pathetic statement on having a deal, bears no relation to
the truth. Very dishonorable people to deal with. With them, there is
no such thing as dealing in good faith. AMAZING! Also, their totally
rebuffed Drone attack last night against Indian Ships leaving the Hormuz
Strait is TOTALLY UNACCEPTABLE. They better get their act together, and
FAST! President DONALD J. TRUMP
He could clear it all up by simply releasing the text of the agreement.
Unfortunately, the market has seen this all before with Trump claiming there is a deal and then it all falls apart in hours. Treasury yields are up 3 bps today and the US dollar is higher.
The good news is that Trump isn’t blowing it all up yet. I wrote earlier about the terms and how tilted they seemed, basically meeting all the Iran demands. If anything, it’s actually heartening that those aren’t the terms because it would have been hard for the US and future administrations to stick to that deal.
This article was written by Adam Button at investinglive.com.