Bonds & Stocks
US stocks are set to extend a retreat, with traders nervous about rising bond yields as House lawmakers debated tax cuts at the center of the Trump administration’s policy agenda. The dollar also fell.
Economy
The White House has targeted G-7 allies as part of its expansive agenda, hitting steel, aluminum, automobiles and other goods with new import taxes and threatening even more in the biggest revamp of American trade policy of the postwar era. Tariffs, and the worsening global economic outlook, will hang over everything as finance chiefs and central bankers meet in the mountains of western Alberta.
World
UK inflation jumped more than forecast to its highest rate in over a year as households were hit by a raft of price increases, prompting investors to pare bets on rate cuts from the Bank of England.