Asks if the risk-off selloff in stocks, gold, and bonds will continue and eventually hit stocks.
Vonnie Quinn
Mark Cudmore
Global stocks are having their worst month in 3.5 years; US stocks have been relatively resilient but futures are at 6-7 month lows. Stocks have more downside due to complacent positioning around Trump's incentive to de-escalate before midterms.
Asks if yields could turn around quickly with de-escalation.
Vonnie Quinn
Mark Cudmore
De-escalation could cause a violent move, but persistence depends on Strait of Hormuz reopening visibility. Bonds may be overreacting; longer conflict shifts focus from inflation to negative growth impact (stagflation), which could lower yields.