economy

March 10, 2026

HSBC moves to 'max' overweight stocks, saying peak fear about Iran oil spike has passed

The firm's Max Kettner is confident the recent bout of selling since the start of the U.S.-Iran war will prove to be the same as in the early days of the Covid-19 pandemic.

HSBC moves to 'max' overweight stocks, saying peak fear about Iran oil spike has passed

TL;DR

  • HSBC has increased its stock exposure to the maximum overweight position.
  • The firm believes that the peak fear surrounding the Iran oil spike has passed.
  • Strategist Max Kettner compares the current market situation to the early days of the Covid-19 pandemic and last year's tariff announcement, both of which saw stocks recover.
  • HSBC suggests buying assets that have sold off the most since the Middle East conflict started.
  • A preference is expressed for Asia and Europe, particularly Japan equities, over U.S. stocks.

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