Possible scenario
Limited Ceasefire Emerges
18% Chance
A less likely but market-relevant outcome is that battlefield exhaustion and outside pressure produce a temporary pause. This would not settle territorial or security issues, but it would reduce near-term war-risk premia and improve European sentiment.
Initial impacts
- Market volatility Down
- Riskier companies' borrowing costs Down
- 10-year Treasury yield Up
- Oil prices Down
Secondary impacts
- Non-Energy Materials +0.2%
- Industrials -0.2%
Portfolio impact
S&P 500+0.4%
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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