payrolls report. Sure, the headline job numbers looked fantastic, but the big question remains: Are rate cuts coming quickly enough to soften the blow from the Fed's tightening spree and avoid a classic recession? Most economists seem to think so, and the bond markets finally agree. The challenge, though, is that policy shifts don’t happen overnight.
Any real escalation in the Middle East that disrupts oil infrastructure could throw everything into chaos, sending inflation roaring back. If Israel hits Iran’s oil or nuclear sites, and the U.S. and U.K. get dragged in, all bets are off. Now that Golden Week has come and gone, Thailand is waiting to tally up the economic windfall from what was expected to be a significant boost. The flood of 183,000 Chinese tourists was projected to pump a hefty 5.1 billion Thai Baht into the economy.