Geopolitical crises are known buying opportunities, leading to immediate buying on news. This conflict is not a 1970s-style energy shock; it's likely a short war that could increase Middle East stability.

Iranian navy already sunk; Strait of Hormuz is practically open. Insurance is the current issue. Expects rapid resolution, leading to open straits and rapid oil price decline. Treasuries in a multi-year range; economy resilient, Fed may not need to cut rates.