State Street Global Advisors: Renewed Middle East Fighting Unlikely to Change Market Outlook

Renewed escalation in the Middle East is unlikely to fundamentally change the market outlook, State Street Global Advisors said. According to Jin10, Elliot Hentov, chief macro policy strategist at State Street Global Advisors Investment Management, said there has been little new information since April about the willingness of the parties to wage war or the likelihood of further escalation. Hentov said, in short, neither side is seeking a full resumption of hostilities, so the conflict may ultimately subside. In State Street Investment Management's spring war-scenario forecast, the firm assumed Brent crude would be around $80 a barrel for the rest of the year to reflect residual risks inherent in any ceasefire.