Fidelity Investments' Jurrien Timmer suggests markets are anticipating a resolution to geopolitical tensions, noting that crude oil futures remain in backwardation, signaling a short-term supply issue. The S&P 500 has recovered from significant drawdowns, and credit spreads remain contained.
Bitcoin is exhibiting gold-like behavior, with the $65,000 level now acting as strong support. Timmer believes fewer speculative 'paper hands' remain, with selling pressure absorbed. He views equities as priced for success, bolstered by strong corporate earnings and a constructive pre-conflict environment. Despite ongoing Middle East instability and risks like rising interest rates, Timmer advocates for disciplined investing during volatility.