A US official stated there is no consensus on the purpose of negotiations with Iran. The US-Iran ceasefire by April 15 market sits at
The April 15 market reflects full confidence in a ceasefire holding through that date. The April 30, May 31, and June 30 markets are also at
Trading volume in these markets is low, which points to skepticism about immediate hostilities but also means no fresh catalysts are moving prices. These odds deserve caution because the real test is the upcoming Islamabad talks mediated by Pakistan.
The disagreement over negotiation purposes reflects deeper diplomatic friction that current market odds at 100% don’t capture. This could be noise, but the risk of escalation is real if talks in Islamabad fail. At 100% YES, traders see no immediate ceasefire breakdown, though any shift in language from Trump or Araghchi could move these markets quickly.
Keep an eye on the outcome of the Islamabad talks and statements from Trump or Iranian officials. Any indication of progress or stalemate could move these contracts off their current ceiling.
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