Barclays said it now expects the U.S. Federal Reserve to deliver a 25 basis point interest rate increase in January instead of an earlier expectation for a December hike.
The brokerage cited softer-than-expected October employment data and dovish Fed commentary for the forecast push to next year."We continue to think the FOMC will need to proceed with additional tightening and will have to maintain a higher rate path than expected by the market, with no rate cut prior to September 2024," economists at Barclays said in a note dated Nov. 3.
Global fund managers sold China equities sharply in October despite further steps from authorities aimed at boosting the world's second-largest economy, according to a report from Morgan Stanley that cited data from fund flow tracker EPFR.Shares of Indian kitchenware products maker Cello World rose as much as 29.2% in their trading debut on Monday, valuing the company at 177.72 billion rupees .
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