serendipity
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May 13 (Reuters) - Major brokerages have scaled back their U.S. recession forecasts following a temporary tariff truce between the U.S. and China, which has fuelled optimism for easing global trade tensions. Goldman Sachs reduced its U.S. recession forecast to 35% from 45%, marking the first major brokerage to do so, while Barclays dismissed recession risks entirely and J.P. Morgan placed the probability below 50%.
On Monday, the U.S. and China agreed to reduce tariffs on each other's imports for 90 days., with the U.S. lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%.
On Monday, the U.S. and China agreed to reduce tariffs on each other's imports for 90 days., with the U.S. lowering its tariffs on Chinese goods to 30% from 145% and China cutting duties on U.S. imports to 10% from 125%.
