【申万宏源策略】美以伊冲突发生一个月，大类资产当前性价比如何？——全球资产配置每周聚焦 (20260320-20260327)

Core Viewpoint - The article discusses the current cost-effectiveness of major asset classes in light of the ongoing conflict between the U.S., Israel, and Iran, one month into the situation [2] Group 1: Asset Class Analysis - The article highlights that equities have shown resilience despite geopolitical tensions, with a focus on sectors that may benefit from increased defense spending [2] - Fixed income assets are analyzed, indicating a potential shift in investor sentiment towards safer bonds as market volatility increases [2] - Commodities, particularly oil, are noted for their price fluctuations, influenced by supply chain disruptions and geopolitical risks [2] Group 2: Global Asset Allocation - The article emphasizes the importance of diversification in global asset allocation strategies to mitigate risks associated with geopolitical events [2] - It suggests that investors should consider reallocating their portfolios to include more defensive assets in response to the current market environment [2] - The potential for emerging markets to offer growth opportunities is discussed, particularly in sectors less affected by geopolitical tensions [2]