War scares, peace deal rumors, a blockbuster jobs report, and a surprise ceasefire announcement halfway around the world — the trading week had enough headline collisions to keep even seasoned traders second-guessing their positions. The Strait of Hormuz was the week's gravitational center, with markets whipsawing between escalation fear and deal optimism depending on which news wire hit first. Monday opened with confirmed U.S.-Iran military exchanges driving a sharp risk-off flush. By Wednesday, a reported framework agreement had flipped sentiment entirely. Thursday clawed most of it back. Meanwhile, the RBA delivered its third straight hike, Canada's jobs report came in ugly, and Friday's nonfarm payrolls landed above expectations — alongside a record-low University of Michigan sentiment reading. Buckle up. It was a lot.