The next five days will be critical in the Iran war, says Allianz's Mohamed El-Erian

• President Trump announced postponing military strikes against Iranian power plants, citing 'very good and productive conversations' over the last two days.
• Financial markets reacted strongly, with stock futures soaring (Dow up over 1,200 points) and oil prices tumbling (WTI Crude down over 10%), reversing a 'flight to cash' trend.
• El-Erian highlights that while the market sees this as a de-escalation, significant uncertainties remain regarding the alignment of objectives among the US, Iran, and Israel, and the ability to control field commanders, making the next five days critical.

Mohamed El-Erian discusses the market's strong positive reaction to President Trump's announcement of postponing military strikes against Iranian power plants. While acknowledging the immediate relief reflected in soaring stock futures and tumbling oil prices, El-Erian cautions that underlying complexities and non-aligned objectives among the involved parties (US, Iran, Israel) still pose significant uncertainty, making the next five days critical for de-escalation.