Global Growth Resilient But Slowing as Inflation Cools and Risks Linger

• Global economy proving more resilient than expected; inflation falling without large job losses • OECD forecasts 2.7% global GDP growth in 2024, down from 2.9% in 2023 due to high interest rates • 3 key economic variables to watch US Federal Funds rate, Brent crude oil prices, Chinese credit growth • Traders less prone to overestimate Middle East tensions on oil prices after being burned in 2022 • China's property sector slump and reliance on state financing poses risks to domestic and global growth