Take Five: Two years of war and an AI bull
investing.com(Reuters) — It's been two years since Russia invaded Ukraine, bringing war to Europe for the first time in decades, while the markets' AI bull's seemingly unstoppable run continues, and China returns from a week-long holiday to economic uncertainty.
Here's your week ahead primer in world markets from Rae Wee in Singapore, Lewis Krauskopf in New York, and Marc Jones, Dhara Ranasinghe and Naomi Rovnick in London.
1/ UNWELCOME ANNIVERSARY
Feb. 24 marks two years since Russia launched its full-scale invasion of Ukraine. While markets have long overcome their initial panic, the anniversary is an unwelcome reminder of the war's ongoing and multifaceted toll.
Aside from the human tragedy, the rebuild cost alone is now estimated to have reached almost half a trillion dollars, or 2.8 times Ukraine's annual economic output. Western governments have provided $100 billion — $60 billion in military aid and $40 billion in budgetary help — a year since the invasion.
The grumblings are growing in Washington, where Joe Biden's leading Republican opponent Donald Trump is revving up for November's election that he fully expects to be part of. European leaders could also be about to raid some of the frozen Russian asset money that is currently sitting idle.
2/ ADIOS RECESSION RISK
A resilient U.S. economy, with its strong labour market, explains why global recession fears have fallen away.
Yet, even with China in the doldrums and powerhouse Germany now the sick man of Europe, business activity data out globally from Thursday should show that the picture beyond the U.S. is not all bleak.
While in contraction territory, the January euro zone PMI hit six-month highs and the bloc avoided a recession late last year, the latest GDP data
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