Possible scenario
Retaliation Debate Widens
−0.4%
Kyiv may argue that strikes on launch sites, depots and airbases are necessary to stop attacks on civilians. The key uncertainty is whether Western partners tolerate deeper Ukrainian strikes into Russia or keep the response centered on defense and aid.
What it moves
- Industrials+0.8%
- Energy+0.3%
- Market volatility
- 10-year Treasury yield
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