Naomi Fink is cautious on pricing in an Iran deal off-ramp, requiring clear concessions. She sees equity markets as having downplayed the conflict. For Japan, a resolution could prompt the BOJ to hike sooner, and the yen is a credibility indicator for the BOJ.

George Lagarias is cautious on a massive bond rally from an Iran deal, as break-even markets weren't pricing in very high inflation. He sees the ECB potentially hiking once, but three hikes would be a stretch given stagflation risks. His biggest concern is growth in Europe, not just inflation.

Timothy Ash views the Turkish political situation as less stressful than the Imamoglu arrest scenario. He believes the central bank and government will manage markets, using reserves to defend the currency. Energy is a bigger risk for Turkey, but a Gulf deal would help. He sees a potential early election scenario.

Monica Defend says Europe is vulnerable due to energy dependency, but sees opportunity in selectivity, particularly in AI, automation, and pharma. She notes a material interest in Europe from clients, driven by credibility and consistency of institutions. She has a medium to long-term view that the US dollar will weaken.

Danny Lee says the immediate term is positivity around a potential ceasefire, but real-world supply chain normalization will take months. Airline stocks are lifted by lower oil prices, but we have been here before with potential deals.

Elena Simperl says the financial sector is highly exposed to AI disruption. There is a huge discrepancy between how employers see AI and what workers experience. She warns of distributional anxiety and potential civil unrest if displacement happens too fast. Governments should consider using AI in public services and monitoring its impact.