Peace is breaking out or is it?

One moment it's all over and the next it's back to the familiar threats about hitting Iran harder than ever. I don't believe for a minute that Donald Trump wants to start bombing Iran all over again. He is desperate - and more desperate than Iran - to find a settlement that he can sell as a victory. But there really isn't much of a smell of victory in the air. The best he can hope for is a mini deal leading to a bigger settlement at a later stage. This is now what appears to be happening. The leaked report to Axios that a one-page memorandum is close to being drawn up which states the main agreements so far, with a 30-day period to conclude the rest of the details, had everyone thinking there was at at last an agreement. But almost as soon as this memo was revealed, there was a warning from Tehran that nothing had been decided and that the so-called memo was just a wish list by the White House. This can't be the case. Trump wouldn't have stopped the operation to escort ships through the Strait of Hormuz if he thought Iran wasn't interested in a deal. So, there is clearly something going on behind the scenes, with Pakistan acting as mediator. But now we're back to threats from Trump to Iran to sign or else. I hope the war has come to an end. But will it really be good news for Trump, something optimistic he can take to Beijing next week when he is due to meet with Xi Zinping? By the end of this week, we should know the answer.