Trump TACOs on Iran Ultimatum; 5-Day Pause Announced as Markets Bounce With Little Conviction

Today ranks among the top-3 most chaotic days of the war from a news perspective. President Trump’s Saturday night, 48-hour ultimatum, demanded that Iran fully reopen the Strait of Hormuz or face obliteration of its power plants (starting with the biggest one, an implicit nod to Bushehr): That proved a step too far: classic Trumpian…