To be honest, I'm a bit surprised at the second-leg down in risk assets after headlines from ABC crossed the wires with a US official confirming the attacks. Here's another US official who always likes to share what he knows from classified briefings. I think he's pretty much telling us what happened. {tweet} This line of attack probably also explains the report of the radar station being knocked out. {chart} Gold is at an all-time high and the yen is up 60 pips. I'm inclined to fade this because I think Iran will let it go. Of course, everyone wants to know about damage and potential casualties first. But if it's ... (full story)