After spending the early part of the Iran war trying to sell Americans on an economic message of short-term pain for long-term gain, President Donald Trump and his team have increasingly reverted to their previous posture: that of Kevin Bacon in “Animal House.” Source: cnn.com

A ceasefire reopened the Strait of Hormuz on Friday, but economists warn the shock is already working its way through the global economy. Source: ms.now

Economist Mohamed El-Erian said that issuance of new bonds has exceeded the amount of money available to buy it. Source: businessinsider.com

The possibility of a prolonged disruption to the supply of crude oil, liquefied natural gas, fertilizer and other commodities looks to be off the table. Source: axios.com

When it comes to the affordability debate that will define the midterm elections, President Donald Trump’s biggest and toughest opponent is this: reality. Source: bloomberg.com

The conflict in the Middle East is a major shock that poses a “serious threat to the global economy” and will hit the poorest countries the hardest, according to a statement expected to be released by the Chair of the International Monetary and Financial Committee Friday. Source: bloomberg.com