The featured commentary argues that Iran strikes amplify volatility but do not yet alter the Fed’s expected path
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U.S. equity futures point ~-1.1%, oil +8%, and gold higher; Treasury yields tick up despite risk aversion.
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Core PPI rose 0.8% m/m (3.6% y/y), reinforcing expectations for two 25bp Fed cuts in 2026 with 10-year yields near 4%.
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Preferred securities—particularly $1,000 par issues (4.2-year duration)—offer yield, QDI tax efficiency, and exposure to resilient financial issuers (see Figure 2, p.3).
Does energy-driven inflation risk reshape allocations—or reinforce income strategies? The full commentary elaborates.
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