by Bill O’Grady
Since the beginning of the year, rebels in Syria have been making steady gains against forces loyal to the Assad regime. Over the past six weeks, these gains have accelerated. The recent rebel victories are raising questions about the Assad regime’s ability to survive.
In this report, we will recap the problems the Syrian government faces, including internal dissention and military losses. We will discuss the growing evidence of a Turkey-Saudi axis that may be aiding the rebels to weaken or eliminate Assad and pressure Iran. From there, we will examine the potential Iranian and American responses to the rebel gains and support from Riyadh and Ankara. As always, we will conclude with potential 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.