A 15-point ceasefire proposal from Washington has introduced a glimmer of diplomatic hope into global markets, despite continued heavy kinetic action on the ground. While Iran evaluates the offer through intermediaries, the disconnect between “diplomatic noise” and “military reality” keeps volatility at multi-year highs. Treasury Group Manager Emre Değirmencioğlu analyzes the delicate balance between the … Continue reading Morning Brief: Markets Cling to Fragile Diplomacy as CBRT Bleeds Reserves