Possible scenario
Militia Escalation Returns
15% Chance
A less likely but material risk is that Iran-backed factions or splinter groups interpret the withdrawal as an opportunity to test remaining U.S. diplomatic facilities and Kurdish sites. The market impact would be limited unless casualties or U.S. retaliation follow.
Initial impacts
- Riskier companies' borrowing costs Up
- Market volatility Up
- 10-year Treasury yield Down
- Oil prices Up
- US dollar Up
Secondary impacts
- Industrials +1.0%
Portfolio impact
S&P 500-0.8%
Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.
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