Testing The Truce

2026-06-28 09:00:00 ET

Real Estate Weekly Outlook

U.S. equity markets delivered mixed performance this past week - while benchmark interest rates retreated - as oil prices fell back toward pre-war levels despite continued tit-for-tat military exchanges in and around the Strait of Hormuz. Following last week’s tentative Iran-U.S. truce, shipping traffic through the Strait indeed ramped up rapidly, helping to ease energy-market anxiety even as the conflict continued to simmer. Bloomberg data showed that tanker traffic through the Strait ramped up to nearly a third of pre-war levels over the past week - more than the prior five weeks of traffic combined. The fragile normalization was tested again late in the week, however, after a pair of ships were hit in Iranian attacks, prompting a U.S. retaliation against Iran for what it described as unwarranted aggression against commercial shipping....

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