These days, investors have a lot on their minds, but one thing seems to be overlooked.

Israel-Hamas war, which began in early October, rattled global financial markets at first, sending stocks tumbling, the Israeli shekel sliding, and oil prices soaring. The US bond market rallied the day after Indigenous Peoples’ Day, the first trading day following the start of the war, as investors rushed to protect their portfolios from geopolitical risks.

Since then, however, such concerns seem to have diminished.

Despite fears that the war would spread to key oil-producing countries and further constrain global crude supplies, oil prices have since pulled back to levels well below September’s highs.

The Treasury yields are hovering around highs not seen since over a decade ago, indicating there hasn’t been a resurgence of the flight to safety that followed the start of the war. In times of economic uncertainty, governments are seen as safe havens.

Wall Street is focusing on what it perceives as more immediate threats: interest rate increases from the Federal Reserve and earnings season.

“We’re a little bit overwhelmed with information,” said Yung-Yu Ma, chief investment officer at BMO Wealth Management.

FactSet reports that 24% of S&P 500 companies have reported third-quarter results, with 78% beating expectations.