Ask left-wing and far-right politicos across the planet about President Donald Trump‘s decision to launch Operation Epic Fury against the Iranian dictatorship, and they’ll warn he has brought us to the precipice of World War III. Investors across the globe see the situation differently.

American equities and bond markets are mostly muted since the joint U.S.-Israeli action against Iran’s 47-year theocratic regime began Feb. 28. If anything, Trump’s muscular actions have restored international confidence in the previously besieged U.S. dollar.