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The Weekly Look at the Global Economy and Markets
It was another turbulent week for the global economy, leaving financial markets with few safe havens. As the war in the Middle East escalated, quickly implementable “off ramps” for the three warring parties have become increasingly difficult to define. As a result, the hope initially held by many—that the resumption of oil production and shipment would be rapid—was undermined. Consequently, the economic and financial consequences of this war have shifted from very short-term disruptions to longer-term ones, and now to a higher likelihood of structural damage that may take months to repair once the conflict ... (full story)