Eurozone GDP: France posts strongest annual growth since 2011 – business live

All the day’s economic and financial news, including new eurozone growth figures

Newsflash: France’s economy grew by 0.6% in the last three months.

French revival? GDP up 1.9% in 2017, highest since 2011 …4Q GDP +2.4% on year thanks mainly to business investment #macron #france

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Today we learn if Europe’s economic recovery is on track.

Opening calls
FTSE100 is expected to open 46 points lower at 7,625
DAX is expected to open 99 points lower at 13,225
CAC40 is expected to open 34 points lower at 5,487

After such a promising end to last week where the Dow rallied 200 points to a fresh record close, trading on Monday couldn’t have been more different. US stocks experienced a spectacular reversal and plummeted overnight, as the US 10 year treasury yield pushed relentlessly higher. Concerns are starting to enter the market that inflation could be catching up and higher interest rates could pour cold water on the bull run.

As the US treasury bond sell off depended, US treasury yields shot up to a peak of 2.73%, the highest level since 2014.The Dow dumped 177 points in its worst trading day so far this year and the S&P dived 0.7%.

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Janet Yellen sets interest rates one last time. How will history rate her?

The Fed chair has set the bar high for her successor, a tenure defined by five major achievements

Janet Yellen, the Federal Reserve chair, begins her final rate-setting meeting at the helm of the US central bank on Tuesday, before she is replaced by Donald Trump’s chosen successor, Jerome Powell.

The first woman to lead the Fed arrived in February 2014 at a time when the money-printing machine of quantitative easing was whirring at full-tilt under her predecessor, Ben Bernanke. QE, which involved the Fed buying bonds from financial institutions, pumped billions of dollars into the US economy to keep it afloat after the financial crisis.

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