Source: DBS Chief Investment Office, Market Pulse Publication Date: 2 March 2026 This article is based on and adapted from the original report. Hi, Tigers~👋 How’s everyone navigating this week’s volatility? Have you managed to capture any excess returns during the swings — or has risk control been the bigger win? Over the past week, the pricing logic of global risk assets has shifted noticeably. The sudden escalation of U.S.–Iran tensions, the risk of an oil supply shock, a potential rebound in inflation expectations, and growing divergence within the AI theme have converged at once. With multiple variables interacting simultaneously, markets are entering a phase characterized less by clear direction and more by rising volatility. So today, let’s break this down together. In this edition,