<div id="readability-page-1">We are seeing huge moves in markets after Trump announced a peace deal with Iran. The news was confirmed by Israel's N12, which suggests it's a broader deal that also includes Lebanon.We are seeing large, immediate moves in markets with the S&amp;P 500 up 1.3%, or just shy of 100 points. The Nasdaq is up 1.8% and the Russell 2000 is up 2.4%.Another big mover is gold, which broke below some key levels yesterday. It's back above those today and rising by $90 to $4165, or 2.2%. Silver is up 4%.Treasury yields are down 5-7 bps across the curve as inflation risks fade. The US dollar is broadly weaker and USD/JPY is flirting with 160.00 to the downside.The big loser is oil, which is trading down $2.50 with the entire decline coming on this. I tend to worry that some of this leaked as oil was curiously flat today before the announcement.All told, this is potentially great news that ends a genuinely nightmarish scenario of opposing headlines and false starts for months. Either that or this is yet-another false start and it's not actually over. I did highlight earlier that Trump would be eager to make a deal due to plunging poll numbers, his birthday celebrations on June 14 and the US 250th anniversary celebrations on July 4.Update: Barak Ravid from Axios is out with more:<ul><li>The deal would extend the ceasefire, reopen the Strait of Hormuz and launch 60 days of negotiations on Iran's nuclear program. </li><li>Tehran has yet to confirm his latest claim but three sources briefed on the talks told Axios that key gaps were resolved </li><li>Iranian officials told several countries on Thursday that the Tehran talks produced an agreement in principle, but Supreme Leader Mojtaba Khamenei still needed to give final approval</li></ul>The NY Post spoke with Post and says Trump told them a deal is &#34;pretty much all wrapped up&#34;.</div>

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Markets surged following reports of a Trump-announced peace deal with Iran, confirmed by Israeli media. The S&P 500 rose 1.3%, Nasdaq 1.8%, and Russell 2000 2.4%. Gold and silver gained, while Treasury yields fell and oil dropped $2.50. The deal reportedly extends the ceasefire, reopens the Strait of Hormuz, and initiates nuclear negotiations, though Tehran has not yet officially confirmed final approval.

- The announcement of a peace deal between Trump and Iran has led to significant market movements, with the S&P 500 rising 1.3% and gold increasing by $90.  
- The deal reportedly includes a prolonged ceasefire, reopening the Strait of Hormuz, and a 60-day negotiation period concerning Iran's nuclear program, pending final approval from Iran's Supreme Leader.  
- Despite the optimistic news, caution remains as past agreements have faltered, and oil prices dropped significantly following the announcement.

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Markets surge as Trump announces deal with Iran