We answer seven important questions regarding the US-Iran conflict. We outline what has happened, how markets have responded, and what investors should be watching in the days ahead. The analysis highlights potential implications for energy markets, inflation, and broader risk assets, including how fluctuations in oil prices may affect global economic stability and investor sentiment.

Lawmakers recently passed the One Big Beautiful Bill Act (OBBBA). The bill makes permanent individual rates from the 2017 tax cuts and extends key provisions related to business capital expenditures. What impact could the bill have? History shows that tax changes don’t always deliver consistent results, with outcomes dependent on the overall state of the economy. While some past tax cuts led to strong economic growth, others occurred during or immediately before an economic slowdown. The OBBBA may offer a modest, short-term boost to economic growth, but its long-term effect will depend on other factors, such as interest rates, business confidence, and consumer strength.