Reports: Iran agreed to halt enrichment in exchange for easing US sanctions; Tehran denies; Trump again denies any sanctions-relief offer
What happened
Overnight, reports circulated that Iran had agreed to halt uranium enrichment in exchange for easing US sanctions; Iran's Foreign Ministry spokesperson subsequently denied those reports. Separately, Iranian Foreign Minister Araghchi said Tehran had discussed proposals with Qatari mediators to present to the US and that a response is to be relayed back to Tehran through the mediators, with Iran expecting a US response today. For his part, President Trump again denied reports that he is prepared to ease sanctions on Iran and release its frozen assets in exchange for progress on the nuclear issue.
Why it matters & what’s next are part of Pro, along with the audio summary.
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- Energy (XLE): Brent crude back up 2.2% to $107.55 in Asian trade Tuesday; continued stalemate keeps supply-risk premium in place.
- Broad equities (S&P 500/Nasdaq futures): flat-to-positive Europe open despite oil creeping higher, as traders weigh the reports against the denials.
- Treasuries: 10-year yield 5.254% and 30-year 5.565% in Asia, hugging Monday's multiyear peaks as oil-fueled inflation fears persist.
Sources