Trump is considering resuming military action against Iran, and Iran isn’t sitting idle either—out of 33 missile bases in the Strait of Hormuz, 30 are still operational. Meanwhile, Tehran Province is conducting military exercises and has filed a lawsuit with the international arbitration body. What’s even more noteworthy: the U.S. military has already adjusted the routes of 65 merchant ships, with 4 of them completely out of operation. The UK has also announced it will deploy drones, fighter jets, and warships to participate in operations in the Strait of Hormuz. This isn’t just talk anymore; real military resources are being redeployed. The Strait of Hormuz is the choke point for global oil transportation. If shipping costs are pushed higher, the chain reaction of oil prices → inflation → rate cut expectations will tighten again. For risk assets, short-term risk-off sentiment might pack a bigger punch than the CPI data itself