07:36 AM EDT, 06/23/2025 (MT Newswires) -- Global markets barely batted an eye early Monday at the attacks by the United States on Iran over the weekend, said Scotiabank.

Perhaps that's because they "settled nothing," note the bank. There are more questions than answers concerning the scope of damage against Iran's nuclear enrichment facilities and potential retaliation, plus whether the U.S. has slipped into another costly and high-risk forever war that inflames its deficits once more.

Resilient PMIs may also be helping, while expectations surrounding other developments over the coming week, like heavy Federal Reserve communications, especially around the SLR and eSLR moves, may be leaving markets guarded, stated Scotiabank.

Oil prices are up a handful of dimes, the bank pointed out. Equities are mixed with small gains in North America versus small losses in Europe.

The US dollar is broadly firmer, while sovereign bonds are little changed with a slight cheapening bias, added Scotiabank.