Trump believes the only language Iran understands is force. He's frustrated with the prolonged war against Iran but has no better options, so he has to keep fighting. Why not just cripple Iran once and for all? Better to rip off the band-aid than suffer long-term pain! This mess was caused by you, Trump, so let the entire risk asset market bear the burden together. The escalating Middle East tensions have already translated into clear market pricing. As U.S. B-1B strategic bombers strike Iranian targets, the scope and intensity of operations have entered a new phase. Oil prices are surging, with Brent crude breaking past the $100 mark. For the market, inflation expectations will be repriced. Energy costs will directly push up July's CPI, narrowing the policy space for PCE and the FOMC at the end of the month. Rate hike expectations will turn hawkish again, impacting valuations for tech stocks and crypto assets. From here on, every $1 increase in Brent crude means risk assets will face higher inflation and tighter liquidity.