The lack of any meaningful offer in Baghdad would indicate that the P5+1 is now confident of two things: that Iran is not currently building a bomb and that there is time to negotiate before a possible Israeli attack.
And the Iranians, for once, had a point. The P5 +1 offered nothing of substance, refusing even to show reciprocity to news earlier in the week that in separate negotiations with the International Atomic Energy Agency, Iran was close to allowing inspectors greater access to some of its more controversial nuclear sites. While it was likely this was another case of Iranian stalling, even IAEA director-general Yukiya Amano described the possibly of an imminent deal as “an important development.”