On today's show, President Trump says Iran 'gave' the US most of the demands made in his 15-point plan to end the war, despite Tehran previously rejecting the proposal.  It remains unclear whether either side is negotiating. Oil gained and stocks fell on fears that the conflict will escalate, after Houthi militants in Yemen joined the war, firing missiles at Israel on Saturday. The arrival of 3,500 US troops in the Middle East over the weekend has also added to escalation concerns. Bonds are rallying as investors weigh up the impact of the war on global growth. JPMorgan and Pimco say financial markets are underestimating the risks. Today's guest: Lizzy Galbraith, Aberdeen, Senior Political Economist