Grinding Government Advance

The Yemeni Army and Saudi-backed forces sustain the Dawn of Yemen offensive and make incremental gains around approaches to Sanaa without triggering a decisive Houthi collapse. This is the base case because the campaign already shows high strike tempo, but the Houthis retain missile capacity and entrenched positions.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.