The U.K. Treasury’s paper on the economic costs of Brexit seems competent and thorough, as you would expect — and says those costs would be high, as you’d also expect. That said, it would be a mistake to regard this analysis as settling much. Judging the likely economic costs is an unavoidably uncertain exercise. The range of possible outcomes …

  The pattern is a familiar one. In February, the Malaysian government proposed allowing 1.5 million Bangladeshi workers into the country to seek employment. A popular backlash ensued and the government quickly backtracked, imposing a moratorium on hiring foreign workers of all kinds, which still stands. In advanced economies, where this kind of back-and-forth is common, that might be the …

  BLOOMBERG Shares retreated around the world, while crude oil fluctuated amid concerns that a supply glut will persist. The yen strengthened, reflecting investor caution before central bank meetings this week in the U.S. and Japan. The Standard & Poor’s 500 Index fell for the second time in three days since climbing within 1 percent of its all-time high. Energy …