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Trade disruptions stemming from the war in Ukraine, in addition to extreme heat in recent years, are contributing factors for current global food scarcity. The reduction in food output has led to rising food costs across the globe.
Take heed: Rating indicators—in the form of upgrades and downgrades as well as outlooks—all trended red last week. While one week does not signify an inflection point, it does warrant consideration. As market talk in different regions ebbs between the consequences of higher inflation and the possibility of recession, U.S. CPI numbers (Wednesday) will take center stage this week.
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