Weekly Market Pulse: The Turkey Leg

2025-06-23 04:09:00 ET

Note: I wrote most of this commentary prior to the US strike on Iran, and I decided to go ahead with it anyway. I don’t know any more than you do about what is going on in the Middle East, and trying to predict what will happen in the coming days and weeks is a fool’s errand. We have a strategic allocation to commodities in our portfolios exactly because we can’t predict things like this. Futures markets are not open yet as I write this, so I don’t know how things will open, but oil up and stocks down seems both too obvious and still likely. How big the effect and how long it lasts is unanswerable, but history would favor not big and not long....

Read the full article on Seeking Alpha

For further details see: