Since the President of the United States, Donald Trump, announced the tariff pause in April, the stock market has had a strong upturn. This despite the fact that it is a pause - and that the tariffs are generally at a higher level before Trump took office.
This is something the market has not really taken into account, given this upturn, says Frida Bratt.
Therefore, we are already in a vulnerable situation, Bratt means, and also brings up the US debt ceiling as an uncertainty factor. Now, another cloud of worry is added when the geopolitical risks increase with the conflict between Israel and Iran.
For the world economy, the oil price is the greatest concern. Iran is one of the world's largest oil producers, and the concern is about whether the oil will not be transported via the important Strait of Hormuz - where oil transports from Iraq and Saudi Arabia must also pass.
This concern has already made an impact on the oil price, says Frida Bratt.
A more expensive oil price can lead to consequences for inflation and the economy. What it will result in, we do not know yet.
But whether the stock market's best days are over is difficult to say, Frida Bratt means. However, small investors must keep in mind that the stock market may fluctuate a lot this summer, she means.
With that said, it does not mean that you have to act in any way, but if you are long-term, try to keep a cool head, says Frida Bratt.
