Wall Street Trading Desks Rewrite Stocks Playbooks on US-Iran War

The macro sales desk at Bank of America is steering clients to buy HALO, or “hard assets, low obsolescence” stocks. At Goldman Sachs they’re recommending a geopolitical basket of defense contractors, oil producers and tanker companies. Over at Barclays, traders are urging a rotation back into the big winners of years past, US megacaps.

As investors navigate the latest bout of geopolitical and market turmoil, one message is clear from the trading desks at some of Wall Street’s largest banks: lean into quality and high cash flow companies.