Possible scenario
Sustained IRGC Campaign
26% Chance
Iran follows the initial missile and drone attack with additional limited strikes, arguing that Iraqi Kurdistan is still hosting armed opposition groups. The campaign remains below the threshold of direct Iran-Iraq confrontation but raises security costs for Erbil and foreign operators.
Initial impacts
- Market volatility Up
- Riskier companies' borrowing costs Up
- Oil prices Up
- 10-year Treasury yield Down
Secondary impacts
- Energy +0.4%
- Industrials +0.2%
- Finance
Portfolio impact
S&P 500-0.3%
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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