Global markets are trading near record highs even as the geopolitical and macro backdrop looks unusually fragile—a disconnect that is increasingly forcing investors to ask what, exactly, is being priced in, and what is being ignored.
The stress points are piling up. The war in Ukraine is now entering its fifth year, while tensions involving Iran show little sign of resolution despite upbeat remarks from President Trump. At the same time, uncertainty around the future of NATO has intensified after Washington moved ahead with a withdrawal of U.S. troops stationed in Germany, raising fears in… Read more





