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IMF Cuts Global Growth Forecast | US Bond Yields Surge
Published October 9, 2018
The International Monetary Fund has cut its global growth forecasts as trade tensions between the US and trading partners have started to impact economic activity worldwide. The IMF said the global economy is now expected to grow at 3.7 percent this year and next year, down 0.2 percentage points from an earlier forecast.
A Brexit deal is “eminently possible” within weeks but there can be no regulatory barriers within the United Kingdom, said the head of the Northern Irish Democratic Unionist Party leader, Arlene Foster.
The yield on the benchmark 10-year US Treasury note rose above 3.25 percent as strong data fuels fears about rising inflation and a potentially faster pace of rate increases by the Federal Reserve.
Brent crude prices rose on concerns over declining supply from Iran before the imposition of new US sanctions and a partial shutdown in the Gulf of Mexico due to Hurricane Michael. Brent crude has hit a low of $85.04.