Middle East

Alors que nous abordons la dernière ligne droite du semestre, une question demeure : quelles seront les conséquences du conflit au Moyen-Orient pour l’économie en 2026 ? Dans le dernier Investors’ Outlook, nos experts de la Boutique Multi Asset partagent leurs points de vue.

With tensions in the Strait of Hormuz increasing over the weekend and markets getting used to oil prices well in excess of $100 per barrel, this seems an opportune moment to zoom out and look at the state of play in fixed income markets, considering the unsettling reality of a longer-than-expected conflict in the Middle East.

Sharp swings in government and corporate bond markets since the onset of the Middle East conflict pose interesting questions for fixed income investors.

Vontobel’s experts discuss how geopolitics, inflation and credit are shaping the outlook for fixed income, exploring the impact of the Middle East crisis, diverging paths between the U.S. and Europe, and where value opportunities may emerge across credit markets.

As fixed income investors, our focus is on how the shock ripples through the variables that matter most for bonds: inflation, growth, and how central banks respond.

Our Vontobel experts, Dan Scott, Head of Multi-Asset & CIO; Christoph Boner, Chief Investment Allocation Officer; and Georg Häsler, security and military expert at NZZ, analyzed the latest developments in the Iran conflict. The discussion covered the blockade of the Strait of Hormuz, the scope for action of the US, China’s role, and the implications for global energy supplies.

Vontobel’s experts provide their perspective on developments in the Middle East and Iran and discuss the potential impact on emerging market equities and fixed income.

La volatilité a été bien présente depuis le début de l’année, avec une montée des tensions géopolitiques et les craintes croissantes de bouleversements liés à l’IA, mais une petite taille sur les marchés peut s’avérer bénéfique. Le dernier numéro d’Investors’ Outlook se penche sur les évènements récents et les met en perspective.

As the US-Israeli military operation in Iran enters its fourth day, markets are continuing to react to rhetoric from both sides and attempting to gauge how long the conflict may last and what the impact will be on the local and global economies.

The geopolitical risk premium has transitioned from being a mere possibility to a present reality. Here is our perspective on the evolving situation in the Middle East.