Quarterly economic outlook: A shocking decade
By: Art Patten, CFA, Client Portfolio Strategist
Quarterly economic outlook: A shocking decade
Financial markets: Complacent or composed?
Given that outlook, it’s reasonable to ask why financial markets have nevertheless held up reasonably well. In the first weeks of the conflict, some observers asserted that markets were being too complacent with the dizzying array of risks posed to the global economy by Iran’s effective closure of the Strait of Hormuz. We would push back on that narrative a bit. The strait has long been seen as a critical commodity-and-shipping chokepoint for the global economy. To hear energy and military analysts tell it, it was always a worst-case hypothetical scenario rather than one that anyone thought was likely to occur.
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