EQUITY TECHS: E-MINI S&P: (U5) Northbound

• Bund targets the small initial resistance seen at 131.00, this would be followed by 131.28 and 131.50.
• The Yield is drifting back towards 2.50%, but it only managed a 2.514% low Yesterday.
• The 2.50% level equates to 131.12 Today.

From our Policy Team: The World Bank slashed this year's global growth forecast almost half a percentage point to 2.3% on the U.S.-led trade war and said economic expansion over the next two years is set to be the weakest since the 1960s. 

This year's growth would be the slowest since 2008 outside of an outside recession, which is not expected now, according to the development institution's report Tuesday. Growth estimates are being cut across 70% of nations.

"If today’s trade disputes were resolved with agreements that halve tariffs relative to their levels in late May, global growth would be 0.2 percentage point stronger on average over the course of 2025 and 2026," the report said. “Emerging-market and developing economies reaped the rewards of trade integration but now find themselves on the frontlines of a global trade conflict,” said M. Ayhan Kose, the World Bank’s Deputy Chief Economist, in a press release. 

US Cash opening calls, set for a flat steady Open as investors await on fresh Trade news, but especially the US CPI Tomorrow, the main Data release for this Week.

• Calls: SPX: 6,015.2 (+0.2%); DJIA: 42,787 (+0.1%/+25pts); NDX: 21,835.7 (+0.2%).