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Fed ‘policy mistake’ trade comes back in bond market

  Bloomberg Wall Street is pushing back against the Federal Reserve’s tougher tone on raising interest rates, as strategists see the bond market warning of potential consequences. Treasuries staged their biggest weekly decline since November after minutes from the Fed’s April meeting rekindled wagers that policy makers will raise rates as soon as next month. The dollar soared and bond-market ...

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New Brazil economic team downgrades expectations for budget

  Bloomberg Brazil’s new economic team projects the largest budget deficit before interest payments on record this year, underscoring the challenge Acting President Michel Temer will face in turning around Latin America’s biggest economy. Temer’s administration will submit a bill that would allow it to report a primary budget gap of 170.5 billion reais ($48.4 billion) in 2016, Finance Minister ...

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Deere cuts full-year profit outlook amid agriculture income decline

  Bloomberg Deere & Co., the world’s biggest agricultural equipment manufacturer, cut its fiscal full-year earnings outlook as lower commodity prices hurt farmers’ income and a glut of unsold machinery continues to pile up at dealerships. Full-year net profit will be about $1.2 billion in the year through October, Moline, Illinois-based Deere said in a statement Friday, compared with the ...

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