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AttachéMorning. The Fed held, and Boeing’s strike took a turn.

YouHeld? I thought a cut was a done deal.

AttachéMarkets had priced one in. Powell used one word: patience. Want what changed?

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Reuters reports US and Iranian forces exchanged strikes near the Strait of Hormuz overnight, a week after the tanker strikes you asked about1. About a fifth of the world’s oil passes through it, which feeds your housing thread: oil to inflation, inflation to yields, yields to the 7% mortgage you saw yesterday2.

  1. 1US strikes disable two Iranian tankers, destroy a thirdDiscussed a week ago
  2. 2Mortgage rates rise above 7% on inflation fearsDiscussed yesterday

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