Markets' 'Oh Snap' moment on Iran arrives, and it feels 'icky' -- Nomura

Nomura strategist Charlie McElligott warns markets are increasingly pricing in a prolonged Middle East conflict, raising the risk of higher inflation and upward pressure on interest rates while weighing on growth. That realization could push central banks toward a tougher policy stance, increase market volatility and drive risk-off positioning across assets.

Analysis

Nomura strategist Charlie McElligott warns markets are increasingly pricing in a prolonged Middle East conflict, raising the risk of higher inflation and upward pressure on interest rates while weighing on growth. That realization could push central banks toward a tougher policy stance, increase market volatility and drive risk-off positioning across assets.