Possible scenario
Broader Ceasefire Framework
19% Chance
A more meaningful diplomatic breakthrough becomes possible if Ukrainian battlefield gains give Kyiv confidence and Moscow sees value in freezing the conflict. This remains less likely than a narrow energy pause because territorial and security-guarantee issues are still hard to reconcile.
Initial impacts
- Riskier companies' borrowing costs Down
- Market volatility Down
- 10-year Treasury yield Up
- Oil prices Down
- US dollar Down
Secondary impacts
- Energy -1.3%
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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