What Does the US-Iran Conflict Mean for Markets? – UBS Research Report

Key Takeaways

• 1.Disruption to Middle Eastern export routes through the Strait of Hormuz is keeping oil supplies tight and prices elevated.
• 2.Broader financial markets remain resilient, supported by solid economic growth, corporate earnings, and ongoing AI investment.
• 3.Investors should remain constructive on global equities while maintaining broad commodity exposure to hedge geopolitical and inflation risks.

Table of Contents

• Key message
• 01 Disruption to key export routes is keeping oil markets tight.
• 02 But markets have remained resilient, while solid growth and strong earnings should limit the broader impact.
• 03 So, we remain constructive on equities and favor diversified commodity exposure.
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