JPMorgan Strategists Say Investors Are Complacent on Iran War

The team, led by Dubravko Lakos-Bujas, said investors are failing to price the potential economic damage from soaring energy costs, despite the fact that four out of five oil shocks since the 1970s have led to recession. “While some of the froth has been taken out of high-risk factors and speculative areas of the market, we still see complacency,” the strategists said in a note.