Remember the Ever Given? The boat that got stuck in the Suez Canal? Well, thanks to the Houthis, traffic in the canal is down by almost as much as when it was plugged. It seems the red sea crisis is about to inject an inflation spike much like the one the Ever Given gave us. Only, this time, the memes will be much less jolly. North of Israel, the war on two fronts is coming on nicely. With the assassination of Hamas’ deputy and a Hezbollah commander on Lebanese soil, we analyse the chances that they could throw their keffiyehs into the ring. Finally, a new report  shows that financialised US office space in the major metropoles is now regularly underwater. We’re returning to the question of whether it’s about to have its own 2008 moment.