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DTUS - Rate Cuts Resuming In 2019 But Oz Is No More
Barclays Bank PLC ZC SP REDEEM 13/08/2020 USD 50 - Ser A 06740L519
Yesterday, as stocks celebrated odds of US Fed rate cuts in 2019, a World Bank report reduced its semi-annual forecast for global growth to 2.6% - from 2.9% at the start of the year - and slashed its forecast for growth in trade to 2.6% from 3.6%. This downgrade did not include further weakness from an additional 25% US tariffs on Chinese and Mexican goods that could begin this month.
Shrinking output is evident around the world, with May's US ISM factory index falling to 52.1 - the lowest reading since October 2016, and JPMorgan