by Bill O’Grady

(Due to the Martin Luther King Jr. Day holiday, our next report will be published on January 27.)

On January 3^rd, the U.S. launched a missile strike that killed Major General Qassem Soleimani, the leader of the Quds Force of the Islamic Revolutionary Guard Corps (IRGC).  As a high-profile commander, his death rocked the region and raised fears of a broader confrontation.

Although the situation remains fluid, Iran and the U.S. appear to have come to a point of stasis; in other words, the odds of further immediate escalation have declined.  In this report, we will discuss recent events and examine the context surrounding these events.  As always, we will conclude with market ramifications.

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