STOCKS DRIFT LOWER AND US YIELDS RISE BUT GROWTH OUTLOOK DIMS

Global equities slid and the 10-year Treasury yield hit almost a 16-year high on Monday at the start of a week with meetings of major central banks, including the Federal Reserve which is likely to reiterate interest rates will stay higher for longer. Global crude benchmark Brent came close to $95 a barrel in a further surge in oil prices. The market shrugged the surge off last week due to the resilience of the U.S. economy and key inflation data for August showing a decelerating trend.

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