Fiscal Shocks Likely to Reverberate Amid Iran War Fallout -- Market Talk

Dow Jones03-23

2050 GMT - The ongoing rise in developed market bond yields is probably overdone, exacerbated by "positioning washouts," says Pepperstone senior research strategist Michael Brown. Still, talk of government support schemes to cushion the impact of higher energy prices will add to concerns about mounting pressure on government budgets worldwide, he says. It is safe to assume those economies which were in the worst fiscal shape pre-crisis will be underperformers here, Brown says. That leaves gilts, in particular, exposed to further downside if government spending taps are turned back on, he says. (james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

March 22, 2026 16:50 ET (20:50 GMT)

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