Iran has received a 10 day ceasefire plan, but US President Trump has warned that Iran will pay a price if it causes the death of US troops. The Strait of Hormuz and the Strait of Mandeb are at risk, as the Mandeb Strait is related to Saudi Arabia's 4.9 million barrels per day of crude oil exported through the Red Sea. The CPC oil terminal in the Black Sea has shut down, causing disruptions in energy and food supply. Former New York Federal Reserve Chairman Dudley believes that rising energy prices increase the pressure to raise interest rates, while Morgan Stanley expects interest rates to remain unchanged throughout the year. The US money market fund, which manages over $8 trillion in assets, has shortened its duration and increased its holdings of overnight repo and floating rate bonds. The market focuses on the response to the 10 day ceasefire plan, the Houthis' actions against Saudi ships, and the recovery of CPC terminals.
