Deterrence Holds
+0.2%
The tanker withdrawal functions as force protection rather than a prelude to combat. Washington keeps a reduced Mildenhall footprint while moving refueling capacity to Spain and other NATO locations, and Iran avoids a direct attack on European bases.
What it moves
- Industrials+0.2%
- Consumer Services+0.1%
- Riskier companies' borrowing costs
- 10-year Treasury yield
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