Market brief · Economy & rates
The Race to Build a World Beyond Hormuz

Every actor with the power to end this war has instead spent September building permanent infrastructure to live around it. The House voted for a third time Tuesday to curb Trump's war powers, passing the latest resolution 220-204, but there is little confidence it will make it through the Senate, and if it does, Trump would likely veto it. The one Gulf-wide diplomatic track aimed at reopening the strait (the Iran-GCC-Iraq meeting scheduled for September 11 in Oman) was postponed, with no new date set. And Treasury Secretary Scott Bessent (the…
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