German Bank: Key Issues Still Unsettled in Iran Agreement

In a report, Joerg Kraemer of the German commercial bank Deutsche Bank stated that there are still key issues pending in the agreement reached between Iran and the United States. During the 60-day negotiation period of the agreement, issues such as the Iran nuclear program will be resolved. "We expect good news and bad news to come in waves like a roller coaster in the next two months," he said. Kraemer pointed out, for example, that Hezbollah may resume shelling northern Israel, and Israel's strong response could prompt Iran to once again close the Strait of Hormuz. However, the overnight positive market reaction suggests that expectations of oil prices fluctuating near the $100 mark may decrease. He said that the agreement limits the downside economic risks, although economic growth rates in Germany and the Eurozone are expected to be a meager 0.6% this year.