It’s not a rosy picture that NAB’s Tapas Strickland paints of the global economy on today’s Morning Call. Phil Dobbie asks him how far US stocks would have to fall before the President takes note and tries to resolve the US-China dispute. They also discuss falling bond yields, with 10 year Treasuries hitting the lowest level since September 2017 midway through the session. When will the Fed cut rates? How soon will the RBA and RBNZ? The Bank of Canada held rates overnight, but is it only a matter of time for them? Today the US GDP for Q1 is likely to be revised downwards, but it’ll still be a lot better than Q2.