Markets are stabilizing but remain highly sensitive to geopolitical headlines, particularly around the US–Iran situation and Strait of Hormuz disruptions.
The tone has shifted slightly toward short-term relief, but not enough to confirm a durable risk-on trend.
Core View:
This is still a fragile stabilization phase, not a true recovery.
Macro is defined by:
- Persistent geopolitical risk premium
- Elevated energy prices feeding inflation
- Controlled but cautious institutional positioning
➡️ الأسواق بتتماسك… لكن بدون ثقة حقيقية