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Global markets: Brazil’s loan defaults hit fresh highs

By Commodity News Service Canada

WINNIPEG, December 22 – The following is a glance at the news moving markets globally.

BRAZIL’S LOAN DEFAULTS HIT THREE-YEAR HIGH
Unpaid bank loans (for at least 90 days) moved to a three-year-high in November according to reports out of Brazil.

Brazil’s default ratio came in at the equivalent of 5.2 per cent of outstanding non-earmarked loans.

In October Brazil’s default ratio was the equivalent of five per cent.

US THIRD QUARTER GDP REVISED DOWNWARD

US real gross domestic product was revised downward to two per cent, down from the previously reported 2.1 per cent, according to the country’s Bureau of Economic Analysis.

INDIA EXPECTED TO BE FASTEST GROWING ECONOMY: HARVARD RESEARCH
India has the potential to outpace China to become the world’s fastest growing economy over the course of the next ten years, according to researchers at Harvard.

India has a projected annual growth rate of 7 per cent, according to researchers, who projected China’s growth at 4.3 per cent by 2024.

CANADA’S CRUDE OIL AND PETROLEUM STOCKS GROW IN OCTOBER
Crude oil and condensates, and other liquefied petroleum products held in tanks and terminals rose 10.4 per cent from September to 7.3 million cubic metres in October. Inventories remaining in pipelines edged up 1.2 per cent to 12.6 million cubic metres, Statistics Canada said in a report on Tuesday.

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