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April 2015

Mozart seduces the World Bank and the IMF

Patrick Kabanda's picture
Something curious happened recently at the D.C. enclaves of the World Bank and the International Monetary Fund (IMF). Mozart, no less, seized hold of the two institutions. The 18th-century Austrian composer emerged with his Grand Mass in C minor, K. 427, engulfing the modern glass and steel halls of the Bank and the Fund. The outcome was nothing less than a majestic and glorious sound — in the name of development.

Global Daily: U.S. private-sector job growth at slower pace in March.

Global Macroeconomics Team's picture
Financial Markets

U.S. stocks slid for a second day on Wednesday and the dollar fell after weaker-than-expected U.S. private-sector job growth in March. Both the S&P 500 and the Dow Jones Industrial Average lost 0.4% in afternoon trading. The dollar weakened 0.3% to $1.0763 per euro, and the greenback lost for the first time in three days against the yen. Meanwhile, U.S. Treasury prices rose, with the benchmark 10-year yield sliding below 1.9%.