The latest escalation in the Middle East is doing more than moving energy prices. It could reshape the 2026 macro story.

In this episode of "What's Brewing", Head of Political & Government Affairs Matt Holmes and Chief Market Strategist & Economist Guy Miller unpack:

• How higher input costs could change central bank paths
• Why this conflict could ripple through inflation, interest rates and global growth
• How affordability, migration and security are reshaping politics in the U.S. and Europe
• Why Asia seems to take a quieter stance, including China's long game on supply chains and Taiwan