Signal

Good morning. Markets are in freefall this morning as Iran's escalating control over the Strait of Hormuz sends shockwaves through global trading floors. Oil has spiked to $110 a barrel after Trump's deadline extension failed to ease tensions, with the President now delaying any potential attack on Iranian energy infrastructure until April 6th. The traditional 60-40 stock and bond portfolio is having its worst month since 2022, leaving investors with few safe havens as both equities and fixed income tumble together. UK motorists are already feeling the pinch with petrol topping 150p per liter just as the Easter break approaches. On the tech front, Iranian hackers are claiming they've breached FBI Director Kash Patel's personal email, adding a cybersecurity dimension to the current crisis, while Apple says no users of its Lockdown Mode security feature have been successfully targeted by spyware. There's some positive news from Rivian, which just secured another $1 billion investment from Volkswagen. Meanwhile, that fascinating New Scientist study has mapped the most detailed anatomy of male sexual response yet, and there's encouraging progress on lung cancer screening campaigns significantly boosting early diagnosis rates.