The 2026 conflict in Iran and the closure of the Straits of Hormuz—a chokepoint for approximately 40% of the world's oil—have pushed energy prices above $100 per barrel, leading the Nasdaq and S&P 500 into correction territory. While the U.S. remains net energy independent, global pricing interconnectedness has triggered a 10% market pullback, requiring retirees to focus on portfolio rebalancing rather than emotional liquidations.

This analysis features Dean Barber, Managing Director at Modern Wealth Management and David Mitchell, Managing Director at AllianceBernstein. We examine potential outcomes of the Iranian conflict, noting that Iran's population of 92 million and its control over global commodity inputs like helium and fertilizer make this vastly different from previous Middle Eastern conflicts. We also discuss the 2026 bear market in tech, citing Microsoft's 27% decline despite stable earnings, and the emergence of tax-exempt municipal bonds with taxable equivalent yields reaching the 7% range.

Sources: Insights provided by David Mitchell of AllianceBernstein and Dean Barber of Modern Wealth Management. This session emphasizes the fiduciary duty to manage portfolios based on stick-to-itiveness and mathematical probability.

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The views expressed represent the opinion of Modern Wealth Management a Registered Investment Adviser. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.