The Gaza Strip is in ruins. Israel’s yearlong offensive against Hamas, one of the deadliest and most destructive in recent history, has killed more than 41,000 people, a little over half of them women and children, according to local health officials. “Whoever sees Gaza ... It will make them cry.”
Derivatives show tentative optimism, with cleaned-up leverage, positive funding rates and rising institutional basis, even though traders are still paying a premium for short-term downside protection....