A US-brokered framework agreement reached in June 2026 and subsequent diplomatic efforts produced a ceasefire between Israel and Hezbollah that took effect in mid-October, with the Lebanese army tasked to assume control of southern border zones and both sides required to withdraw forces within 60 days. US and French guarantees accompany the deal, yet implementation remains stalled over sequencing of Hezbollah disarmament and Israeli redeployment, ongoing Israeli demolitions and operations inside occupied territory, and Hezbollah’s refusal to surrender weapons. Next trilateral talks are scheduled in Florida, while Lebanon seeks an international security presence to replace the UNIFIL mandate ending in December. Trader assessments of when a sustained two-week pause begins hinge on whether these frictions produce renewed clashes or verifiable de-escalation in the coming weeks.