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Your Saturday European Briefing: A Market for Masochists

Something for the weekend

A dried tree stump on the exposed bed of the Ardingly Reservoir in southern England.

A dried tree stump on the exposed bed of the Ardingly Reservoir in southern England.

Photographer: Carlos Jasso/Bloomberg

Well, hello there. We’ve some great stories for you to delve into this evening, and a revealing podcast to get you thinking.

Sorry, but recession warnings are everywhere—a Bloomberg survey of economists now puts the odds of a US contraction at a simple toss-up, and that’s never good for Europe. Inflation remains high, Russia’s war with Ukraine is snarling supply chains and boosting the cost of raw materials, while a slowdown in China is sowing worry about the future of global growth. Normally that would be enough for stock investors to head for the hills, but not in this market for masochists. One possible reason for the extraordinarily high pain threshold is Apple. It’s just beaten the S&P 500 for a ninth straight week.