US and Iran just extended their 60-day ceasefire past today's deadline.

Pakistan brokered the deal. Trump says there's a backchannel with Iran's Revolutionary Guard. But no real deal is close yet.

Day 170 of this standoff.

Markets hate uncertainty. Oil's been choppy. Defense stocks stay bid. If this breaks down, crude could spike and risk-off flows hit equities fast.

Watch the headlines. Geopolitics always matter more than people think until they suddenly matter a lot.