Bloomberg Surveillance Markets in Flux as Iran War Drags On
Mar 24, 2026
Aaron Kennon, CEO of Clear Harbor Asset Management, on fixed income, duration and alternatives. Mark Howard, BNP Paribas multi-asset specialist, on diversification, mortgages and inflation risks from the Middle East. Wei Li, BlackRock global chief investment strategist, on market disconnects, thematic bets like AI and energy, and tactical bond positioning. They discuss geopolitics, timing risks and portfolio positioning in short, sharp takes.
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Prefer Enterprise Software With Strong Moats
- Be selective within software: favor enterprise providers with deep vertical moats over retail software with weak moats.
- Wei Li calls for active stock selection as markets indiscriminately sold many software names.
War Damage Raises Persistent Inflation And Supply Risks
- The war's damage to infrastructure and trust creates long-lasting inflationary effects that won't reverse quickly.
- Mark Howard warns business and global supply chains face years to rebuild, implying prolonged inflation risk.
Diversify And Consider Mortgage Exposure
- Diversify across asset classes and consider underfollowed fixed-income like mortgages for extra spread and relative safety.
- Mark Howard highlights mortgages can offer 30–50 basis points more than Treasuries as a store of value.
