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Investors scrambled to adjust their bets and rushed to cover short positions after the cease-fire. Barclays called it a "powerful short squeeze."
But even with markets celebrating, experts warn this is just a temporary relief; deeper issues like inflation and ongoing US sanctions on Iran are still hanging over the global economy.
As Christopher Dembik, senior investment adviser at Pictet, put it, inflation in essentials like food and materials remains a big worry.