Trump gets the peace deal he wants and rages against Israel’s Netanyahu: ‘He has no f—ing judgement. I let him know that’

Good morning. On Fortune’s radar today:

Peace at last—and markets are loving it.

Trump has lost faith in Netanyahu.

Markets: Joy to the world.

The Fed’s Warsh walks a tightrope.

Anthropic blindsided by 90-minute national security ultimatum.

The Ozempic dividend could reach $200,000 per person.

Iran deal: Oil down, stocks up, world exhales

President Trump, Iranian officials, and Pakistani mediators have all said publicly that a deal has been reached to end the conflict in the Middle East. Stocks in Asia and Europe rose on the news as the price of oil fell. Few details have been made available as to what, exactly, is in the deal. Here’s what is being reported this morning: 

The deal will be signed in Switzerland on Friday.

It contains a pledge of no further hostilities for 60 days.

Both sides commit to further talks.

The nuclear issue remains unresolved—talks to come later.

The unfreezing of $12 billion in Iranian assets.

The Strait of Hormuz to be reopened after mine clearing.

The peace deal includes Lebanon but Israel isn’t signing it.

Back to the future: The deal basically puts the region back where it was before the conflict started. “For now the can kicking exercise has been very well received by markets,” Deutsche Bank’s Jim Reid said in a note this morning.

Leaked: Trump has lost faith in Israel’s Netanyahu

Another astonishing report by Axios claimed Trump was furious that Israel was attacking Hezbollah even as the talks neared their conclusion:

"It is so bad — I couldn't believe it. An hour before we are supposed to sign the deal." Trump acknowledged Hezbollah attacked Israel first but stressed it didn't cause any damage and nobody had been killed. "Why did Bibi have to do a f—ing attack? I was so pissed off. I let him know. He has no f—ing judgement. I let him know that," Trump said.

Trump also chided Netanyahu on social media. “This morning’s attack on Beirut should not have happened,” he said. “There should be no more attacks by Israel anywhere in Lebanon.”

“Ships of the World, start your engines”

Trump, exultant: In one of many posts on social media the president hailed the end of the war: “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade. Ships of the World, start your engines. Let the oil flow!” 

Iran pushes differing versions of deal as U.S. sticks to timeline - Bloomberg

Markets celebrate U.S.-Iran deal as both sides confirm this time is real. Trump says oil will flow and ‘I never........

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