How much more upside for equities if the Strait re-opened fully?
If the Strait of Hormuz re-opened fully soon, the upside for global equities might appear limited given MSCI’s ACWI Index is now more than 4% higher than before the Iran war began. But its surge from a trough in late March has been fuelled by another boom in ‘tech’ sectors that have left others in their wake. The upshot is that the index would probably climb further, assuming demand for AI stayed strong.
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