Equities ex-US posted the strongest increases last week for the major asset classes, based on a set of exchange traded funds. But on Monday morning that rally suddenly looks like ancient history after the attacks on oil-production facilities in Saudi Arabia over the weekend.
The attacks represent a "historically large disruption on critical oil infrastructure," advises Jeff Currie, head of commodities research at Goldman Sachs (GS), via a research note.
"This weekend's drone attacks on Saudi oil facilities mark a major setback to the global geopolitical landscape," says Taimur Baig, chief economist at DBS Bank