Morning Update: Destruction and disruption carry on

The U.S. and Israel's war on Iran has entered its third week, sustaining elevated geopolitical risk that could drive safe-haven flows and volatility across markets. The bulletin also flags a cybercrime operation that may pose operational and security risks for firms. Watch the Bank of Canada's upcoming rate decision for potential 25–50bp-scale market moves in Canadian rates, FX, and risk sentiment.

Analysis

The U.S. and Israel's war on Iran has entered its third week, sustaining elevated geopolitical risk that could drive safe-haven flows and volatility across markets. The bulletin also flags a cybercrime operation that may pose operational and security risks for firms. Watch the Bank of Canada's upcoming rate decision for potential 25–50bp-scale market moves in Canadian rates, FX, and risk sentiment.