Possible scenario
Managed Containment
30% Chance
Germany treats the attribution as confirmation of an ongoing covert campaign but avoids a public escalation cycle with Moscow. Investigators continue criminal cases and intelligence sharing while markets largely view the event as already priced into the European security backdrop.
Initial impacts
- Market volatility Down
- Riskier companies' borrowing costs Down
- 10-year Treasury yield Up
Secondary impacts
- Consumer Services +0.2%
- Technology +0.1%
Portfolio impact
S&P 500+0.1%
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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