While there is no consensus on how Russia’s invasion of Ukraine is going to play out, strategists see the conflict creating lasting changes for investors’ portfolios. It’s a cautionary note for those reverting to old playbooks or those looking to the latest selloff as a buying opportunity.
“This is clearly not a temporary risk-off event that the economy and markets shrug off and return to business as usual,” writes Ethan Harris, Bank of America’s global economist in a note to clients on Tuesday. Harris’ base case scenario…