We have taken a look at the data over the course of the last five stand-offs between Israel and Hamas/Palestine on the back of the atrocious scenes unfolding in the region over the course of the weekend. We hope and pray for a peaceful outcome and send our thoughts and prayers to hostages and impacted civilians.

We consider an escalation involving Iran to be the biggest market risk right now and will release our geopolitical analysis shortly. Before we get to politics, we will allow the numbers to speak for themselves.

The overview is the following:
– Expect a slightly stronger USD
– Higher…

Chart 1: Table overview of returns +1m after Israel engaging in combat with Hamas