Bank of America: The market seems to underestimate the risk of prolonged war in the Middle East

Golden Ten Data reported on March 16 that Bank of America analyst Antonio Gabriel stated in a report that the market seems to underestimate the risk of prolonged war in the Middle East. "While there is indeed a possibility that the conflict will be resolved quickly, we believe it is equally likely that the conflict will persist into the second quarter," Gabriel said. He noted that the valuation of the US stock market and the Federal Reserve's interest rate expectations indicate that investors are underestimating "scenarios that are more disruptive to global economic growth."