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US strike on Mexico by...?

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Bulls Say, Bears Say

Bulls Say

Trump has repeatedly threatened military action against Mexican cartels

Escalating rhetoric could accelerate timeline to year-end

12% odds may underestimate unpredictability of current administration

Bears Say

Price has fallen 10% in a week, signaling fading market confidence

No related news or triggering events support a near-term strike

A military strike on an ally within months would be historically unprecedented