1) IMF cuts global growth to 3.6% on Russia’s war in Ukraine
The International Monetary Fund (IMF) has cut its forecast for global economic growth in 2022-23 by nearly a full percentage point from a 4.4% growth to 3.6% citing Russia’s war in Ukraine and warned that inflation has emerged as a “clear and present danger” for many countries.
The cut came not long after the World Bank lowered its global growth forecast by nearly a full percentage point as well, slashing economic growth from 4.1% to 3.2% for the same reason.
2) JPMorgan expects Brent at $185 if EU shuns Russia oil immediately
J.P.Morgan said that Brent crude could reach $185 a barrel if the European Union execute the plan to ban Russian crude immediately as more than 4 million barrel per day of oil supplies would be displaced with neither room nor time to re-route them to China, India, or other potential substitute buyers.
3) Musk to invest $15 billion to take Twitter Private
Elon Musk said that he is willing to invest between $10 billion and $15 billion of his own cash to take Twitter private, according to the report from Washington Post. The Tesla CEO is planning to launch a tender offer for Twitter in around 10 days.
4) US 30-year yield topped 3% for the first time since 2019
The U.S. 30-year bond yield briefly topped 3% yesterday for the first time since 2019 as investors digested St. Louis Federal Reserve Bank President James Bullard’s hawkish view on aggressive move on building interest rate to 3.5% by the year’s end to tackle rising inflation.
