by Bill O’Grady
(Due to the Martin Luther King Jr. Day holiday, our next report will be published on January 27.)
On January 3rd, the U.S. launched a missile strike that killed Major General Qassem Soleimani, the leader of the Quds Force of the Islamic Revolutionary Guard Corps (IRGC). As a high-profile commander, his death rocked the region and raised fears of a broader confrontation.
Although the situation remains fluid, Iran and the U.S. appear to have come to a point of stasis; in other words, the odds of further immediate escalation have declined. In this report, we will discuss recent events and examine the context surrounding these events. As always, we will conclude with market ramifications.
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These reports were prepared by Confluence Investment Management LLC and reflect the current opinion of the authors. Opinions expressed are current as of the date shown and are based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change. This is not a solicitation or an offer to buy or sell any security. Past performance is no guarantee of future results. Information provided in this report is for educational and illustrative purposes only and should not be construed as individualized investment advice or a recommendation. Investments or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances.