April 8, 2026
Equity markets retreated in the first quarter as the sudden eruption of hostilities with Iran injected new geopolitical risk into the outlook. Fixed income investments faced volatility from rising interest rates as higher fuel prices reduced the expectations for monetary easing. Many major foreign nations are dependent on energy imports and will be vulnerable to disruption. The trajectory of the global economy began the year on solid footing but is now contingent upon the duration and intensity of the war in Iran.