After economic turmoil erupted on three continents in recent weeks, a familiar consequence of past crises is notably absent: panic. In Europe, Greece veered dangerously close to exiting the euro. In China, a historic stock bubble appears to be deflating. In North America, Puerto Rico threatens one of the biggest government defaults in U.S. history. But there has been little of the global contagion that followed the deepening U.S. mortgage crisis in the fall of 2008 and previous Greek debt crises. On Friday, the Dow Jones Industrial Average, responding to signs that Greece may yet strike a deal to stay in the euro, climbed to within 3% of its all-time high. VIX, the stock market’s “fear gauge,” is below levels reached as recently as last December. Yields on bonds issued by Europe’s weaker countries have edged up, but by far less than Greece’s. Federal Reserve Chairwoman Janet Yellen , […]