Insights

Markets rise but investors remain cautious as war breaks out in the Middle East

13 October 2023

This week began with news of war between Israel and Gaza following the terror attacks by Hamas last weekend. It might seem inappropriate to comment in a markets newsletter, however, it is important to mark these events. The brutality of the assaults on mainly civilian targets have generated sympathy and horror in most observers. In addition, the nature of these attacks will shape Israel’s response. The conflict with Hamas controlled Gaza appears to be far greater in scale than previous conflicts. The confrontation is so far limited in scope but the potential to draw in other countries means this could quickly spiral and markets remain wary of the fallout.