UBS On-Air: Paul Donovan Daily Audio 'War risks'

An explosion at a hospital in Gaza has subtly shifted financial markets’ response to the Israel-Hamas war. Initially markets gave little weight to the risk of a wider conflict. Since the explosion, the Palestinian, Egyptian, and Jordanian leaders have cancelled meetings with US President Biden. While safe-haven flows still seem to be muted, the gold price is now back in the range seen over the summer, and oil prices have moved a little higher.