A rough start to that new U.S. Iran deal. From Marketplace in Washington, I'm Kimberly Adams. A planned summit in

Switzerland between the U.S. and Iran was postponed due to a fresh round of Israeli strikes in Lebanon.

Reuters is reporting that Israel and the Lebanese militant group Hezbollah have now agreed to a ceasefire,

but the developments are leading to more skepticism of a longer-term fix for the Middle East conflict. So what does all this mean for the global economy? For more, I'm joined by Ben Kumar, head of Equity Strategy at Seven Investment Management in London. Ben, good morning.

Good morning. U.S. stock and bond markets are closed for

the Juneteenth holiday, so we're not seeing much market reaction here, but how are global markets taking

this news? Honestly, I think they were possibly prepared for this ahead of time. I think each

announcement of a peace deal or some sort of truce has been taken with an ever

increasing pinch of salt. And look, you know, I've been talking to a few people across Europe

and the Middle East as well, just saying, okay, there's now going to be a peace deal is one thing.

Getting things like mines out of the Strait of Pormuz takes a really long time.

Speaking of which, though, there has been some movement through the straight.

You know, we saw some headlines here that there was an initial bump in traffic through

the straight of Hormuz, although there's fewer tankers passing through today.

How long do you think it might take to actually get back to business as usual?

Well, I think business as usual, you're actually going to need a little bit more business than normal in order to restock inventories.

I think you're going to need to see, I would say, two to three weeks of tanker traffic increasing and at no point falling significantly. Ben Kumar is Head of

Equity Strategy at 7 Investment Management. Thank you so much. Thank you so much.

Earlier this month, the Equal Employment Opportunity Commission dropped a decades-old requirement

that federal agencies must report certain demographic data,

specifically the breakdown of race, sex, and ethnicity in the federal workforce.

The EEOC said the move eliminates, quote, unnecessary regulatory burdens unrelated to the EEOC

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