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Trump Says Iran Ceasefire Possible Only When Hormuz Reopens

US President Donald Trump said a halt to attacks on Iran will only be considered when the Strait of Hormuz is reopened. Trump made the announcement in a social-media post Wednesday, sowing further confusion about how long he's prepared to continue the war. The Bloomberg Surveillance team has more.

Read more: Trump Says Iran Ceasefire Possible Only When Hormuz Reopens
Bloomberg

Morgan Stanley's Zentner Urges Stock Picking, Warns on US Recession Risks

Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, says her firm is not "broad sellers of US equities here," with "pockets where earnings can get better, not worse." Zentner also sees an "uncomfortable" 40% chance of a US recession over the next 12 months.

Read more: Morgan Stanley's Zentner Urges Stock Picking, Warns on US Recession Risks