Global markets reacted positively Monday to a newly brokered peace deal between the US and Iran. The agreement will re-open the crucial Strait of Hormuz, a key waterway for oil transport, and end a US blockade on Iranian trade. Stock and bond prices rose sharply in Asia, while the value of the dollar declined. Investors are optimistic the deal will alleviate concerns about potential disruptions to global oil supplies. The immediate impact is a surge in market confidence, though analysts are awaiting confirmation of increased oil flow. The long-term effects on geopolitical stability and energy prices remain to be seen. This agreement marks a significant de-escalation in tensions between the two countries.