Bob Elliott
· Nonconsensus
· March 02, 2026 at 11:11
| Read on Substack ↗
Summary
The author describes the current market environment dominated by a conflict with Iran. This has led to surging oil and gold prices, slumping global stocks, and rising US yields, creating a particularly difficult situation for traditional 60/40 portfolios that lack commodity exposure.
•A conflict involving Iran is the primary driver of current market action.
•Oil and gold are surging, while most global stock markets are declining.
•Traditional 60/40 portfolios are facing losses from both stocks and bonds, a 'nightmare scenario' for savers without commodity holdings.