Jason Trejo (UBS CIO) argues markets are already pricing in a reopening of the Strait of Hormuz, which truncates the upside tail risk for oil and reduces inflation fears. This supports a less hawkish Fed path (two cuts in 2027). He sees the geopolitical risk premium as manageable and not a game-changer for equities unless oil spikes much higher. He also notes a shift from central-bank-driven to policy-driven markets.

David Bower (JPMorgan ECM) says the SpaceX IPO is a 'generational' opportunity and signals a healthy IPO market driven by fundamental reindustrialization and AI themes, not just low rates. He sees a very active summer for ECM across sectors, not just mega-cap tech, and notes that valuations are not stretched like 2021. He is confident the market has capacity for more large deals.

Rebecca Holmquist advises executives to wait and see on the Iran deal, as there have been too many false signals. She sees the labor market as 'no hire, no fire' but with nuance: healthcare is the only sector adding jobs consistently, and most positions are not being replaced after turnover. AI is causing reallocation, not replacement. Stagflation risk has decreased but not disappeared; three months of good jobs data helps, but core inflation needs to fall further.