Alex Shaloff

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Over the last couple of years, we've gotten numb to the taco trade, where there was some ambitious, bold statement, markets fell, and then there was some walking back of said statement, and markets rallied even more.

You're starting to see that same playbook play out in the Middle East, where the U.S.

engages, Iran engages, we back off, they back off, market goes up.

It's like the same playbook over and over again.

Now there's a one-page memo, next week it'll be a two-page memo.

I think investors are getting used to it.

Over the last couple of years, we've gotten numb to the taco trade, where there was some ambitious, bold statement, markets fell, and then there was some walking back of said statement, and markets rallied even more.

You're starting to see that same playbook play out in the Middle East, where the U.S.

engages, Iran engages, we back off, they back off, market goes up.

It's like the same playbook over and over again.

Now there's a one-page memo, next week it'll be a two-page memo.

I think investors are getting used to it.