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Good morning. Civilians caught in the cross fire, the BOE fails to soothe pain for gilts, prolonged strikes at French refineries, what’s at stake with Xi Jinping’s next term and walking away from Treasuries. Here’s what people are talking about.
President Vladimir Putin’s blitz of missiles against dozens of civilian targets in Ukraine, including critical energy infrastructure, marks a major escalation as he tries to overcome a string of humiliating reverses. Russian officials and Kremlin allies cheered Monday’s strikes, which hardline nationalist voices had been urging, as Putin warned of more attacks if Ukraine continues what he called “terrorist acts” on Russian territory. The European Union denounced the missile strikes as “war crimes” and French President Emmanuel Macron said they reflected “a deep change in the nature” of the war.