Stephen Mayne

And the overall economies are adjusting quite well.

Jet fuel is an issue.

We've had Spirit Airlines collapse over the weekend in the US, pushed over the edge by the soaring jet fuel prices.

So fertilisers and jet fuel and diesel prices

Still, obviously, big pressure points.

But the world has been adjusting to Australia's being closed and investors, even with the oil price hitting a new dollar terms record high, I think it was yesterday when Iran started firing a few drones and

Missiles at the UAE again, which looked like a resumption of hostilities attached to the skirmishes around US escorting a couple of ships through the Strait.

The markets are incredibly relaxed.

And Pete Hegseth was so calm with his yesterday.

You know, they've not breached, the ceasefire's not over.

So it looks like the Americans do want out.

Trump does not want another hot war to resume.

And the Iranians are sort of basically saying, well, they've actually fired a few things at the UAE and they're still keeping the strait closed.

But AI, US earnings, US markets, 5% above where it was when the war started.

So does it matter as much as all the headline writers suggest?

I mean, they might be abolishing quarterly reporting soon.

Trump and the SEC are moving on that.

But the latest quarterly reports for the March quarter that we've just got...

the most common comment was beaten race beaten race they've beaten the forecast and they've raised expectations and so you're right it's not just the forecast though the actual latest quarterly figures have shown remarkable profit growth within the u.s corporate sector and a year a lot of it's ai driven but it's just the incredible performance i mean there's 12 trillion dollar companies in the world you know capped at more than a u.s trillion dollars

TSMC out of Taiwan and Saudi Aramco, still controlled by the Saudis, are the only two non-Americans.