The Iran conflict isn't panicking investors — yet. That's about to change.

Since the Iran conflict began in late February, U.S. equities have been in a steady, modest grind lower rather than a sharp selloff. Wall Street participants are surprised by the market's relative resilience, keeping investor positioning, flows and volatility dynamics under watch.

Analysis

Since the Iran conflict began in late February, U.S. equities have been in a steady, modest grind lower rather than a sharp selloff. Wall Street participants are surprised by the market's relative resilience, keeping investor positioning, flows and volatility dynamics under watch.