Week of March 2, 2026
A realignment of the Middle East power structure appears imminent following the U.S. and Israeli strikes on Iran over the weekend. A known, high-risk geopolitical threat has given way to uncertainty about what comes next. Depending on how events unfold, geopolitical risk could ultimately be reduced on a more permanent basis, all else equal. Stability remains a critical prerequisite for the confident deployment of capital into long-duration financial assets. A “peace dividend” may also be in the offing, improving the outlook for global equity investments. Our Signals remain unchanged for now. Bob Bilkie, CFA
