Ryan and Michael discuss President Trump’s late announcement of a two-week ceasefire and the immediate market reaction: equities rally, energy prices ease, and currencies and bonds shift as traders price lower escalation risk. They caution the truce may be short-lived and highlight the key things to watch—whether the ceasefire holds, progress in peace talks, and the reopening of shipping through the Strait of Hormuz—while noting the remaining logistical and infrastructure hurdles that could delay normal energy flows. Also covered: market technical levels from Clive Lambert, the data and events to watch (Eurozone PPI and retail sales, a US 10-year auction, FOMC minutes), and how geopolitics will likely dominate price action in the near term.