In this episode, Liz Ann Sonders and Collin Martin focus on the market and economic ripple effects stemming from the war in Iran—particularly through energy markets, inflation, interest rates, and investor sentiment.

Liz Ann and Collin begin by addressing a common misconception: that the U.S. being a net exporter of oil insulates the domestic economy from geopolitical energy shocks. Liz Ann explains that oil is priced globally, meaning higher global prices still feed directly into U.S. energy costs, inflation, and market volatility.

Collin then turns to the bond market, explaining that while Treasury yields have risen, the magnitude of recent moves is modest by historical standards and consistent with Schwab’s outlook. He outlines three key forces keeping yields elevated: sticky inflation, rising fiscal deficits and debt issuance, and upward pressure from higher global yields.

Liz Ann also explains what it means for markets to be “oversold,” emphasizing that technical indicators describe conditions—not timing signals—and that markets can remain oversold or overbought for extended periods depending on fundamentals.

Finally, Collin and Liz Ann discuss which key economic data to watch in the coming weeks.

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What the Iran Conflict Could Mean for Stocks, Bonds & Inflation