Trump stated he would pause military strikes against Iran for five days. As the news broke, global assets rebounded in response. Spot gold surged over $100 in the short term, Bitcoin quickly broke through $71,000, while Brent crude oil plummeted by over 14% at one point.

This phenomenon once again validates the core pricing logic of the current market: everything revolves around "oil prices" and "interest rate expectations."

The pause in strikes means the risk of a Strait of Hormuz blockade has temporarily eased. Oil prices collapsed by over 14% accordingly, directly lifting the market's most tense "inflation alarm"—with oil prices no longer soaring, Fed rate-cut expectations have been restored, and real interest rate pressure has eased. Assets like gold and Bitcoin, which previously declined due to high interest rate pressure, suddenly got breathing room and launched a collective counterattack.

US stocks equally benefited from this. Previously, markets worried that oil prices breaking $100 would erode corporate profits and delay rate cuts. Now that short-term risks have been removed, risk appetite has quickly recovered.

What's worth pondering is that this "five-day window" itself carries uncertainty. What the market is truly waiting for is whether oil prices can continue to fall and whether inflation expectations can truly cool down. As long as the Strait of Hormuz threat remains unresolved, any slight disturbance will still trigger violent fluctuations. But at least for now, global assets have expressed their shared demand through a collective rebound: peace is more precious than gold. $SIREN