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When the U.S. and Israel launched joint military operations against Iran last Saturday, traders initially showed remarkable restraint. That changed as the week wore on, however, and hostilities intensified rather than resolved....

February brought many developments to capital markets....

February brought many developments to capital markets. For well-diversified investors, it was another strong month: global stock markets outside the U.S. rose – some sharply – and bonds also rallied....

Capital markets have a long history of looking past geopolitical events. An initial (and often sharp) risk-off reaction is typically followed by recovery as investors return to focusing on fundamentals....