The leap seen in the Vendors and Indexes has been exacerbated by our week off, but nonetheless, this jump upwards reflects hope that the fallout from the hostilities against Iran by the US and Israel can be mitigated – ‘hopium’ versus ‘copium,’ in the modern parlance. Still, “the market can remain irrational longer than you can stay solvent,” goes the saying, and in this case, with the US now attempting to blockade the Strait of Hormuz, things are far from ‘back to normal.’ So, while our Operators segment is up just +3.21%, Indexes has jumped by +8.05%, and Vendors is up by a stonking +17.11%.