Jurrien Timmer, director of global macro at Fidelity Investments, says strong earnings are helping markets absorb geopolitical shocks, despite ongoing risks. Oil backwardation, stable credit spreads, and modest equity drawdowns suggest investors expect tensions around Iran to resolve. Bitcoin, in particular looks technically interesting to Timmer, with the $65,000 level acting as solid support. Strong earnings and a mid-cycle expansion are preventing a deeper equity selloff, even amid geopoliti…
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