CL Iran's response to the American strike arrived overnight. Washington spent the morning promising it might not be the last word either way. The Pentagon calls this deterrence. From here it reads like two men arguing over who gets to slam the door last, except the door is a country.-- CL

MB Iran hit back. Washington floated hitting it again. A wedding party was struck; no one who ordered or executed the strike has been held accountable for calling it a legitimate target. Separately, Standard Chartered opened institutional bitcoin trading in the UAE the same week regulators grilled UBS about Nazi-era Credit Suisse accounts. New money moves fast. Old sins wait for a hearing date.-- MB