Israel and Iran Both Dig in ... But Global Equities (And the Tel Aviv 125) See Something They Like
Global equities do not worry about geopolitics or the oil price so far
Highlights
• Global equities do not worry about geopolitics or the oil price so far
• U.S. 10-year yield up slightly ahead of the Fed meeting
• Chinese retail sales are strong while industrial production slows
• Our high conviction calls delivered 20% over the past year
Key Takeaways
• Stocks Are Not Concerned About the War or the Oil Price Surge: Even as the Israel-Iran war enters its fourth day and sends global geopolitical risks ever higher, along with sharply higher oil prices (Brent crude jumping as much as +3% to around $75 per barrel — but has since eased back), equity markets globally are enjoying a dead-cat bounce after Friday’s steep drawdown.
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