In light of the daily deluge of data market participants are subjected to and considering the real-time recessionary mood indicator that is the DM bond market, it's not clear that "official" pronouncements from the likes of the IMF are even notable anymore, but on the off chance anybody cares, the Fund slashed its forecast for global growth in 2019 to just 3.3% on Tuesday. That represents the most dour outlook since the crisis. It's also a more pessimistic take than the Fund delivered just three months ago (the forecast was 3.5% in January). This is the third time the Fund has slashed its outlook in the space of six months. "The escalation of US–China trade tensions, needed credit tightening in China, macroeconomic stress in Argentina and Turkey, disruptions to the auto sector in Germany, and financial tightening alongside the normalization of monetary policy in the larger advanced economies have all contributed to a significantly weakened global expansion, especially in the second half of 2018", the IMF wrote Tuesday, introducing their updated outlook. The Fund says growth will slow in 2019 for 70% of the world economy. The downwardly revised aggregative growth projection "