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Despite crescendoing geopolitical earthquakes, risk assets (including stocks and crypto) are marching upwards to start the month of March.
What's the Scoop?
- Islamic Republic Crippled: Over the weekend, joint U.S.-Israeli airstrikes hit thousands of targets inside Iran, killing Supreme Leader Ayatollah Ali Khamenei and an estimated 550 others. Dubbed Operation Epic Furry, the joint U.S.-Israeli strikes were targeted at key Iranian military facilities. While the Middle East remains embroiled in intense regional conflict, the strikes have heavily curtailed the Islamic Republic of Iran's formerly menacing capabilities.
- Risk Bounce Back: Although many market commentators had previously warned that renewed U.S. involvement in the Middle Eastern would harm risk asset prices, the commencement of conflict has this time around proved beneficial for stock and crypto prices, which were marching upwards to new inter-day highs at the time of writing.
- Oil Spike Faded: With traditional markets closed over the weekend, speculation was running rampant for just how high oil prices might rise once futures reopened Sunday evening. While petroleum has indeed traded at elevated prices throughout today's session, the increase (and thus potential for further economic disruption) appears midler than feared.
What's the Take:
The potential for prolonged insurgency can never be discounted, yet Operation Epic Furry has already confronted Iran with overwhelming force, providing hope that broader fallout will be mitigated.
— Donald J. Trump (@realDonaldTrump) March 2, 2026
