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Commentary: Surging oil and wheat prices are allowing Canada to weather economic storm that's threatening fellow G7 nations into recession; commodities and agriculture make up 10% of Canada's economy, and IMF expects its 2022 GDP to grow 3.9%, leading G7

Morgan Stanley forecasts eurozone to fall into mild recession in Q4 amid reduced energy supplies from Russia; economy would contract for two quarters before resuming growth in Q2 2023, driven by surge in investment

UBS: US economy likely to avoid stagflation and will suffer milder 'slowflation' instead over next 12-36 months, because inflation has already peaked; slowflation defined as period of 'medium to low' growth combined with 'medium to high' inflation

Brazil's public debt in May rose 2.01% month-over-month to US$1.08T; average interest rate on domestic federal debt grew to 11.69% from 11.29% in April, its highest level since May 2017 amid high inflation

Russia has defaulted on its international bonds for first time in more than a century, following sanctions that cut country off from global financial system; payments amount to US$100M in interest on two bonds which were due on May 27: Moody's

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