As the U.S. and Israel relentlessly bombed Iran in the opening days of war, the most dramatic predictions of the conflict's toll were unsparing: surging oil prices, worldwide recession and economic catastrophe.

But six months into the conflict, the direst predictions haven't come true even if no corner of the world's economy has been untouched.

"So far, the global economy has pulled off the financial equivalent of a 'Mission Impossible' scene," said Michael Ashley Schulman, an investment strategist with Cerity Partners.