The U.S. Struck Iran Again On Sunday: A September Rate Hike Is Now The Base Case

The U.S. struck Iranian rocket launchers on Larak Island on Sunday, the first strike in over a month, and Iran retaliated against two U.S. bases in Jordan. I think Kevin Warsh's Jackson Hole speech on Friday mattered more, moving September hike odds from 36% to above 60% and changing how the market should read Iran headlines.